GRYB announces the acquisition of RAD Technologies, Dalkotech and Eco-trak

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The Fonds de solidarité FTQ and the CDPQ jointly invest in the expansion of the manufacturer

VICTORIAVILLE, QC, June 14, 2022 /CNW Telbec/ – The Solidarity Fund QFL and CDPQ take a stake in GRIBa heavy equipment manufacturer in Victoriavilleto enable the company to pursue its expansion plan and acquire RAD Technologies, Dalkotech and Eco-trak.

GRYB announces the acquisition of RAD Technologies, Dalkotech and Eco-trak (CNW Group/Fonds de solidarité FTQ)

These acquisitions, which will provide GRYB with an entry point into the OEM market as well as a range of high-tech products (Eco-trak), are part of an important series of recent acquisitions which strengthen its position as a industry leader. The company has grown rapidly, both organically and through acquisitions, with sales rising from $3.5 million in 2015 at more $250 million today. The number of employees, which was 20 in 2015, will reach nearly 1,000 following the transaction.

“The Dalkotech/RAD group is pleased to join this team of young dynamic Quebec entrepreneurs. Business continuity and respect for family values ​​were essential in our search for a buyer. After more than 35 years in business for Dalkotech and more than 60 years for RAD Technologies, the opportunities to continue to create jobs in Quebec are numerous and there will be even more thanks to the synergy that will be realized after the merger. GRYB will become a major player in the North American attachment market,” said Jean Guy DaltonPresident of the Dalkotech/RAD Technologies group.

“The Dalkotech group has OEM expertise and the merger with GRYB will allow it to grow even faster. The values, the corporate culture and the humility of its management are perfectly in line with those of GRYB. We are also proud of to be able to count on two leading investors to support our growth strategy.Since the beginning of the company, our objective has been to become a benchmark in the fastening market and each acquisition is a further step in this direction. is possible by taking good care of our employees and customers on a daily basis,” said Rémi Beaudoin, President of GRYB International.

“The acquisition of Dalkotech by GRYB will strengthen the positions of both companies. This transaction, supported by the Fund and other financial partners, will allow GRYB to innovate and break into new markets. The know-how developed in Victoriaville, Sherbrooke and Thetford Mines will therefore extend well beyond these three regions. We are proud of the progress made since our investment in Dalkotech and we salute their commitment to remaining a Quebec company,” said Dany Pelletier, Senior Vice-President, Private Equity and Impact Investing, at the Fonds de solidarité FTQ. The Regional Solidarity Funds FTQ Centre-du-Québec will participate in the financing of the Fund.

“La Caisse is pleased to become a shareholder of this manufacturing leader, which now has a foothold across Quebec, Ontario and the United States. Alongside a visionary and ambitious management team that has demonstrated its ability to generate growth both organically and through acquisitions, we intend to continue to support GRYB in its expansion and diversification strategy,” said Kim Thomassin, Executive Vice-President and Head of Quebec at the CDPQ. “GRYB is well positioned to capitalize on the growing infrastructure needs in North America.”

Several other financial partners played a very important role in this transaction: BMO, with the support of BNC, TD, RBC and Export Development Canada, provided a credit facility, while Investissement Québec, Fondaction and the Development Bank from Canada finalized the financing. Note that this transaction is subject to normal closing conditions.

About GRYB

GRYB will celebrate its 15th anniversary in the fall of 2022. Proud of its recent acquisitions of Bateman Manufacturing in OntarioWinkle Industries at Ohio and Serco chargers in Minnesotaas well as the start-up of the Shearex plant in Roxton FallsGRYB is pursuing its ambitious strategic growth plan both organically and through acquisitions.

About the Solidarity Fund QFL

The Fonds de solidarité FTQ invests to build a better society by channeling the savings of its 734,580 shareholders into development and venture capital investments to help Quebec make the transition to a green economy, to a world of work centered on people and towards a healthier society. The Fund offers businesses unsecured financing and strategic support. With $18.3 billion of net assets at November 30, 2021the Fund has supported more than 3,400 partner companies and more than 247,000 jobs.

About the Fund

At the CDPQ, we invest constructively to generate long-term sustainable returns. As a global investment group managing funds for public pension and insurance schemes, we work alongside our partners to build companies that drive performance and progress. We are active in the main financial markets, private equity, infrastructure, real estate and private debt. As of December 31, 2021, the Fund’s net assets amounted to CAD 419.8 billion. For more information, visit cdpq.comfollow us on Twitter or check out our Facebook Where LinkedIn pages.

CDPQ is a registered trademark owned by the Caisse de depot et placement du Québec and used under license by its subsidiaries.

SOURCE Solidarity Fund QFL

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