MONTREAL — Francois Menard, president and shareholder of Solotech, recently announced shifts among its shareholders. Denis Lefrancois, co-president and one of the main architects of Solotech from its beginnings in 1977, has departed, along with a major Quebec-based institutional investor. In their place are three new strategic financial partners for the company: Claridge, Capital Regional et Cooperatif Desjardins and Investissement Quebec.
More details from Solotech (www.solotech.com):
For Francois Menard, “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 regional et cooperatif Desjardins (CRCD), is highly optimistic about this new partnership. “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 Quebec economy leverage to accelerate their growth and create quality jobs.”
“Claridge is very proud to partner with Capital regional et coope?ratif Desjardins and Investissement Quebec 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 Quebec 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.”
