MONTREAL, Sept. 10, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec announced today a $12.5 million investment in Enviro-Viridis Development Corporation (Enviro-Viridis), a company specialized in waste and recycling management and based in the Greater Montreal Area.
"This investment will allow Enviro-Viridis, a major industry leader, to continue to expand and will facilitate future acquisitions, while contributing to our depositors' returns," said Normand Provost, Executive Vice-President, Private Equity of the Caisse de dépôt et placement du Québec. "Enviro-Viridis has shown remarkable growth over the last few months, considering its addition of new facilities and acquisition of various waste management companies. Once again, the Caisse is joining forces with Novacap, a key private equity player that is extensively involved with Québec companies."
"Enviro-Viridis is continuing to develop and implement its expansion plan, which makes this investment crucial," said Domenic Mancini, Chairman of the Board of Enviro-Viridis and General Partner of Novacap Industries. "Novacap and the Caisse have been working together for more than 30 years and are choice partners for high-potential companies," asserted Jacques Foisy, President of Novacap Industries and financial partner of Enviro-Viridis since 2009. "Like us, the Caisse supports Québec companies in their long-term expansion plans."
"Over the last few months, we have opened two sorting centres for building, renovation and demolition materials: one on Montréal's South Shore and the other on the island of Montréal," said Richard Lafrenière and Gilles Bergeron, President and Senior Vice-President, respectively, of Enviro-Viridis. "We have also strengthened our market position through various acquisitions in our industry. We are proud to now be able to count on the Caisse as a partner in our projects."
Enviro-Viridis is a recycling and integrated waste management company with over 300 employees. Active in the Greater Montréal Area and the Trois-Rivières area, it is involved in collecting, recycling and processing domestic, commercial and industrial waste materials. With its three sorting stations, the company focuses on recovering a high volume of the waste collected, reducing landfill and recycling waste.
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.
With $790 million in assets under management, Novacap is one of Canada's leading private equity firms. Since 1981, its distinct partnership approach based on operational expertise has helped companies accelerate their growth and maximize their value. Novacap ranks among the top private equity firms in North America. For more information, consult: www.novacap.ca.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC