Champlain Supports the Growth of Manulift with Fondaction and Desjardins Capital as Key Partners

MONTREAL, Nov. 20, 2024 /CNW/ - Champlain Financial Corporation ("Champlain") and its partners are supporting Quebec City-based Manulift in its pan-Canadian growth strategy. The partnership is motivated by the growth prospects of the construction, infrastructure and agriculture sectors, along with Merlo's best in class products distributed by Manulift which optimize efficiency, safety and fuel consumption.  

Founded in 1987, Manulift is a major Canadian supplier of lifting equipment and aerial work platforms. Manulift is the exclusive distributor of Merlo telehandlers in Canada. The Company's equipment is essential for buildings, bridges, industrial companies, agriculture and mining sites. Merlo's line of telehandlers already includes a fully electric option.

The company plans to expand its reach from its branches in Toronto, Calgary, Ottawa, Montreal, and Quebec City, by enhancing service capacity in existing regions and building a sales force and partnerships in new markets.

"Manulift sees this partnership as a growth catalyst and an excellent opportunity to share best practices with Champlain," said Martin Drolet, President of Manulift.

Champlain is eager to leverage its expertise in the construction, commercial leasing, and equipment distribution sectors to help create new growth opportunities for its new portfolio company.

The participation of Fondaction and Desjardins Capital in the consortium led by Champlain brings additional expertise and resources to support Manulift's development in Canada, while assessing and enhancing its sustainability performance.

Advisors
National Bank Financial Markets acted as financial advisors, and Lapointe Rosenstein Marchand Melançon LLP acted as legal advisors for Manulift in this transaction. Fasken Martineau DuMoulin LLP served as legal advisors to the investor consortium led by Champlain.

About Manulift
Founded in 1987, Manulift is a Canadian leader in the distribution of lifting equipment through Merlo products, serving the construction, agricultural, and industrial sectors. Manulift has built a strong reputation for quality and innovation. Operating nationwide, Manulift is committed to providing equipment that optimizes operations of Canadian businesses, helping them achieve greater efficiency and productivity.

About Champlain Financial Corporation
Champlain is a Canadian private equity firm based in Montreal, managing a portfolio of private investments in Canada and the United States. Its priority is to add value to its partners, small and medium-sized businesses looking to grow domestically and internationally, by providing equity capital, financing, and operational management expertise.

About Desjardins Capital
Backed by 50 years' expertise, Desjardins Capital's mission to contribute to the prosperity of individuals and communities by investing in the growth of Quebec businesses. With assets under management of $3 billion as of June 30, 2024, Desjardins Capital contributes to the longevity of nearly 760 companies, cooperatives and funds in various sectors of activity from all regions of the province. In addition to contributing to socio-economic development, productivity and the adoption of sustainable practices, this subsidiary of Desjardins Group offers entrepreneurs access to a broad business network, enabling them to be accompanied and supported in their projects.

About Fondaction
A pioneer for more than 25 years, Fondaction is the investment fund for those who are mobilizing for the positive transformation of the Quebec economy. To make our economy fairer, more inclusive, greener and more efficient. As a labour-sponsored fund, created at the initiative of the CSN, Fondaction represents tens of thousands of savers and hundreds of companies committed to moving Quebec forward. It manages more than $3.77 billion in net assets as of May 31, 2024 invested in hundreds of companies and in the financial markets, with a focus on investments that generate positive economic, social and environmental impacts in addition to financial returns. Fondaction participates in maintaining and creating jobs, reducing inequalities and fighting climate change. For more information, visit fondaction.com or LinkedIn.

SOURCE Champlain Financial Corp.

For more information: Marc André Lemieux, Champlain Financial Corporation, [email protected]