François Ménard, president and shareholder of Solotech, has announced three new strategic financial partners for the company: Claridge, Capital régional et coopératif Desjardins, and Investissement Québec. These changes are part of a reorganization of the company’s share ownership that also includes the departure of some major shareholders, namely one Quebec-based institutional investor and Denis Lefrançois, co-president and one of the main architects of Solotech from its beginnings in 1977.
Ménard comments, “The addition of these three major investors coincides with the company’s plans to expand, through organic growth and acquisitions, and its global ambitions.”
Marie-Claude Boisvert, chief operating officer for Capital régional et coopératif Desjardins (CRCD), adds, “The enviable position and reputation Solotech has established in its industry are in large measure why we are participating in this transaction. With this partnership, CRCD is pursuing its main mission of offering flagships of the Québec economy leverage to accelerate their growth and create quality jobs.”
“Claridge is very proud to partner with Capital régional et coopératif Desjardins and Investissement Québec to allow Solotech to pursue its development as a leader in the entertainment industry,” says Pierre Boivin, president and CEO of Claridge. “We believe that the company has everything it needs to bolster its presence in Québec and Canada and become a global leader in its field. This is a strategic investment for Claridge, and we will do everything possible to help the management team achieve its ambitions.”
For more information, contact Solotech: 877-514-7656, www.solotech.com.