Fonds de solidarité FTQ Becomes Minority Shareholder in Pultrall

The Fonds is the first external investor in this SME located in Chaudière-Appalaches, a region known for its expertise in the composite materials industry

THETFORD MINES, QC, March 6, 2024 /CNW/ - The Fonds de solidarité FTQ announces a significant investment in the sustainable construction sector, with the participation of Export Development Canada (EDC), in Pultrall Inc.. Specializing in the manufacture of innovative composite material parts, the Thetford Mines-based company welcomes the Fonds as a minority shareholder, the first external investor to join the shareholder base.

In a construction market which is increasingly demanding sustainable construction methods and materials, Pultrall is at the forefront of composite reinforcement production for concrete. Founded in 1987, Pultrall is known for its innovative products and excellent service in several industries, including transportation and construction, thanks to its fiberglass rebar V-Rod. This innovative engineering solution aligns with a vision of sustainable development due to its corrosion resistance, improving the durability of infrastructure compared to those traditionally reinforced with steel. This ability to resist corrosion becomes particularly valuable in the Canadian context, where the use of de-icing agents and the high frequency of freeze-thaw events create ideal conditions for steel reinforcement corrosion.

In addition to providing a solution to the degradation of our infrastructure, Pultrall offers a sustainable production process and a less energy-intensive manufacturing process. Taking into account this factor and others, the Fonds' investment aligns with its goal of reaching $12 billion in assets related to sustainable development by 2027.

Today, the Québec-based company employs nearly 200 people and primarily markets its products in Canada and the United States. Pultrall also plans to make several investments in equipment at the Thetford Mines plant to increase its production capacity.

"The Fonds de solidarité FTQ is a preferred partner for Pultrall: we are pleased to be part of an important business network in the construction sector. This investment provides us with the necessary flexibility to continue our growth, increase our production capacity, and promote our solution to build more sustainably," commented Bernard Drouin, General Manager and Owner of Pultrall.

"We are very proud to become a partner of Pultrall, a manufacturing company that is a model of innovation in the sustainable construction sector, in addition to being a leading player in its community. The Fonds continues its commitment to sustainable development through supporting Pultrall's expertise and innovative methods that stand out in the sector," added Julie Morand, Vice President, Private Equity and Impact Investment - Industries, Fonds de solidarité FTQ.

The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 769,459 shareholders.

With net assets of $18.9 billion as at November 30, 2023, the Fonds supports more than 3,700 companies through venture and development capital investments based on the belief that impact is created as much by financial as social returns. For more information, visit fondsftq.com or our company page on LinkedIn.

SOURCE Fonds de solidarité FTQ