Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec invest $1.1 million in three Saguenay-Lac-St-Jean-based companies
Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec announced today that they have jointly invested $1.1 million in three companies based in the Saguenay-Lac-St-Jean region. These investments enable the companies to pursue their expansion and growth projects.
Always with a view to encouraging entrepreneurship in Québec, Capital régional et coopératif Desjardins and the Caisse de dépôt et placement du Québec created in 2010 the Capital croissance PME (CCPME) fund, thereby supporting the expansion and growth of Québec SMBs. To date, under their agreement, Desjardins Group and the Caisse de dépôt et placement du Québec have jointly invested over $130 million in nearly 90 Québec companies.
According to Marie-Claude Boisvert, Chief Operating Officer of Desjardins Venture Capital, which manages Capital régional et coopératif Desjardins: “The CCPME fund is a major tool used for ensuring economic development in the resource regions. Its relevance is proven through its contribution to enriching the region’s industrial fabric by targeting companies operating in all economic sectors.”
"These three investments in Saguenay-Lac-Saint-Jean are in addition to the dozens of others that have been made throughout Québec since the fund was created," said Luc Houle, Senior Vice-President, Investments at the Caisse de dépôt et placement du Québec. "These successful companies, active in varied industries, contribute to the region's economic development and the Caisse is pleased to be participating in their success while generating returns for its depositors."
3 COMPANIES: $1.1 MILLION
Les Cuisines G.B.M. inc.
Les Cuisines G.B.M. inc. specializes in the manufacture of kitchen cabinets. The company has 18 employees in its head office in Girardville and in its showroom and drafting room located in Saint-Félicien.
Sports Guy Dumas inc.
Sports Guy Dumas inc. is business that operates Chasse et pêche Chicoutimi, a retail business offering products and services for outdoor sporting activities. The company has 15 employees.
Transports J.M.G. inc.
Transports J.M.G. inc. of Saint-Félicien transports tree-length wood and bulk material (wood chips). Nine employees work for the company.
About the Desjardins and Caisse de dépôt et placement du Québec partnership
In 2010, Desjardins Group and the Caisse announced a $600 million agreement ained at supporting the expansion and growth of Québec SMBs. The agreement includes two distinct components: one for small companies and another for medium-sized companies.
The first part of the agreement involves a $200-million fund, Capital croissance PME, to meet the financing needs of small Québec companies, primarily in the form of subordinated loans of less than $3 million. Desjardins Venture Capital, a subsidiary of Desjardins Group, is the exclusive manager of this fund and an equal partner alongside the Caisse and Capital régional et coopératif Desjardins.
The second part of the partnership involves $400 million for the financing of leading medium sized companies with good growth and profitability potential.
About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. At December 31, 2011, it held $159.0 billion of net assets. As one of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate. For more information: www.cdpq.com.
About Capital régional et coopératif Desjardins
Capital régional et coopératif Desjardins, this year celebrating its 10th anniversary, is a publicly-traded company managed by Desjardins Venture Capital. With over 106,000 shareholders and net assets of $1,220 million, the Company contributes to Quebec’s economic development while driving the growth of cooperatives and the resource regions. Capital régional et coopératif Desjardins currently supports more than 210 companies, cooperatives and funds in various industries spanning all regions in Quebec. (www.capitalregional.com)
About Desjardins Group
Desjardins Group www.desjardins.com is the leading cooperative financial group in Canada with assets of $196.4 billion. Drawing on the strength of its caisse network in Québec and Ontario and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.6 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in business and Institutional Services. As one of the largest employers in the country and among Canada’s Top 100 Employers for 2012TM, Desjardins is supported by the skills of its 44,645 employees and the commitment of nearly 5,400 elected officers. A new education and cooperation program is now available to Desjardins members and the general public. For more information, visit www.desjardins.com/co-opme.
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