CDPQ today announced it acquired a minority stake in AV company Solotech, the goal of this transaction (the largest investment in Solotech since 2013), is to support it's acquisition and organic growth strategy to expand its presence in various markets.
“With this investment—the largest in the last decade for Solotech—CDPQ will support the company in its next growth stage. Aligned with CDPQ’s priorities, this means not only shifting activities into high gear, but also facilitating the company’s global expansion and promoting its audiovisual and technological know-how,” said Kim Thomassin, exec VP and head of Québec at CDPQ.
“CDPQ’s commitment is a gauge of confidence in our business model, and their financial investment will allow us to seize new business opportunities as a global AV technology consolidator,” noted Martin Tremblay, president and CEO of Solotech.
“We enthusiastically welcome a new world-class partner like CDPQ. We firmly believe that we will benefit from an expansive additional network that will enhance our perspectives on the board of directors, notably in terms of growing Solotech,” added Pierre Boivin, president and CEO of Claridge and chair of the board of directors of Solotech.