New ownership: Usitechnov Industries' head office will remain in the Beauce region

A succession plan supported by Desjardins Capital, Investissement Québec and National Bank

SAINTE-MARIE, QC, April 19, 2023 /CNW/ - Since it was founded over 30 years ago, Usitechnov Industries has specialized in precision machining in the Beauce region. It's now set to welcome the next generation of leaders. Desjardins Capital has teamed up with National Bank and Investissement Québec to help 2 external shareholders acquire the company so they can keep its expertise in Quebec and maintain its head office in Sainte-Marie.

Friends since childhood, the new owners have entrepreneurial skills that complement each other and make them qualified successors who'll ensure the company's continued success. Charles Quirion's background in entrepreneurial and operational management combined with Frédéric Gagné's financial and administration skills will allow them to pursue the company's mission with support from an experienced team of 25 employees.

"We're proud to have financial partners who have shown a lot of openness, trust and creativity towards the project," explains Frédéric Gagné, Co-President, Finance and Administration of Usitechnov Industries. "By supporting us with a flexible financial package, they're ensuring Usitechnov's long-term success while allowing the company to further its growth objectives despite the current economic climate."

"It's an honour to have a hand in writing the next chapter of the company's history," adds Charles Quirion, Co-President, Operations and Development of Usitechnov Industries. "With their 13-year average seniority, the current team will be key to maintaining our reputation in the market. Their dedication and excellent work will help us provide stability to the clients and suppliers who have trusted us for 30 years, and also allow us to seize growth opportunities that will ensure the company's sustainability."

Usitechnov Industries has everything it needs to achieve its growth ambitions: modern equipment, excess production capacity and a team of machinists, welders and operators trained to meet the highest industry standards. 

 "Implementing a succession plan is a crucial step in the growth of a business," states Marie-Hélène Nolet, Chief Operating Officer of Desjardins Capital. "I'm extremely proud that we're able to keep the company's ownership in Quebec and help 2 entrepreneurs fulfill their dream. Our partnership provides significant support to the new owners who are now fully equipped to take advantage of the strong growth potential in their industry sector."

"Keeping our businesses and their expertise in Quebec is one of Investissement Québec's priorities, and we're highly committed to helping entrepreneurs with their succession goals," asserts Guy LeBlanc, President and CEO of Investissement Québec. "That's why our regional team in Chaudière-Appalaches was thrilled to be able to support Usitechnov with this major project and help the company continue its activities in the region."

"We're excited to partner with dynamic entrepreneurs and other partners for this transaction, which capitalizes on the best of National Bank's expertise in business transfers and successions," says Martine Dessureault, Vice-President, Commercial and Private Banking, Quebec City and Eastern Quebec, National Bank. "Banking solutions are a key facet of a flexible, predictable financing package, and we're pleased to see Usitechnov take this next step in its development."

What's more, the new owners have also received $100,000 in financial support from Développement économique Nouvelle-Beauce through its Fonds locaux d'investissement et de solidarité.

For 30 years, Usitechnov has actively helped visionaries and major manufacturers shape the future. As a valued partner, Usitechnov is known for its turnkey offer for the industrial and manufacturing sectors, providing quality integrated solutions adapted to their manufacturing and precision machining needs. Usitechnov relies on a its team of experts, high-performance tools, cutting-edge techniques, forward-thinking client service and its great attention to detail to develop high-quality parts and products so that companies can make their vision a reality.

Nearly 50 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.9 billion as of June 30, 2022, Desjardins Capital helps contribute to the longevity of some 750 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping create and maintain thousands of jobs, this subsidiary of Desjardins Group provides entrepreneurs with access to a large business network that supports business growth. For more information, visit the Desjardins Capital website. 

Investissement Québec's mission is to play an active role in Quebec's economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province's administrative regions, the corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also provides a wide range of consulting services, including technological assistance available from Investissement Québec ? CRIQ. In addition, through Investissement Québec International, the corporation also prospects for talent and foreign investment, and assists Quebec businesses with export activities.

With $418 billion in assets as at January 31, 2023, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has more than 30,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

SOURCE Desjardins Capital