MONTREAL, May 23, 2013 /CNW Telbec/ - The Business Development Bank of Canada (BDC) and the Caisse de dépôt et placement du Québec (Caisse) announced a joint investment of $12 million in Revision Military Inc. (Revision), a major Quebec developer and manufacturer of ballistic eyewear, head protection systems and other protective equipment designed for military and tactical use.
BDC is investing $7 million in the company while the Caisse is investing a total of $5 million.
With its roots in manufacturing ballistic eyewear, for the past 10 years the company has led a broad R&D, capitalization and marketing program to provide the market with innovative products designed to protect soldiers. This program has enabled the company to secure a leading position in its market. The company currently operates three production plants and has over 200 employees. The company's main clients are the Canadian, American, British, German and Swiss armed forces.
"Revision is a pioneer in its field due to its innovation-focused business model and its proactive client approach. BDC is proud to partner with a Canadian company that has successfully developed an international profile in this highly specialized niche market," said Jérôme Nycz, Senior Vice President, Corporate Strategy and Subordinate Financing at BDC.
"During the past few years, Revision has diversified its product offering to enhance its visibility and competitiveness," said Normand Provost, Executive Vice-President, Private Equity at the Caisse. "By partnering to provide Révision with financing, the Caisse is helping accelerate the growth of a Quebec-based company that is recognized for its innovation."
ABOUT BUSINESS DEVELOPMENT BANK OF CANADA
Canada's business development bank, BDC, puts entrepreneurs first. With almost 2,000 employees and more than 100 business centres across the country, BDC offers financing, subordinate financing, venture capital and consulting services to more than 28,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. www.bdc.ca
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. As at December 31, 2012, it held $176.2 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity, infrastructure and real estate globally. For more information: www.lacaisse.com.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC