The Caisse de dépôt et placement du Québec invests $5.7 million in Québec-based Morgan Schaffer
MONTRÉAL, Dec. 13, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec announced a $5.7-million investment in Morgan Schaffer, a Québec company recognized as a world leader in transformer monitoring solutions.
The Caisse carried out this new investment by way of a loan and a private equity placement. In particular, the investment will enable Morgan Schaffer—of which the Caisse has been a partner since 1999—to finance various international expansion projects.
"We are very pleased to be contributing to the success of a long-standing partner such as Morgan Schaffer, an innovative Québec company with an international reputation," said Normand Provost, Executive Vice-President, Private Equity, at the Caisse. "The Caisse is constantly looking for opportunities to invest in medium-sized businesses presenting solid track records and good growth prospects."
"The support from a long-term investor like the Caisse has significantly contributed to the growth of our company over the years," emphasized Richard Bérubé, Chief Executive Officer of Morgan Schaffer. "For a company like ours, innovation and exports are critical to our success. It is therefore important to work with a financial partner that has a deep understanding of the nature of our operations and our industry."
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, 2011, it held $159 billion in net assets. As one of Canada's leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.lacaisse.com.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC