MONTRÉAL, Feb. 21, 2022 /CNW Telbec/ - The Fonds de solidarité FTQ and the Fonds régionaux de solidarité FTQ Montréal are making an equity and a capital investment to support the growth of GCM Consultants, a Montréal-based engineering firm. The capital will be used for mergers and acquisitions by the third generation of its shareholder base, who will be taking over the company.
Founded in 1994, GCM Consultants initially offered consulting services in mechanical reliability to the industrial sector. Today, the company has almost 400 employees who support the operations of Canadian plants in all industrial sectors and helps companies negotiate the digital shift, transition to clean energy, and address environmental issues. Capable of executing EPCM (Engineering, Procurement and Construction Management) mandates, GCM has three subsidiaries - Volo Construction, Strana Talents and HyperShell - and offices in Alberta, Saskatchewan and New Brunswick.
"We were looking for an investor with a similar philosophy. The Fonds de solidarité FTQ's mission, vision and values align with our objectives," said GCM chairman Normand Thouin.
"Since the beginning of our partnership, we have been able to identify synergies with the industries supported by the Fonds. We are optimistic about our firm's future because we're working with a partner committed to the industry's growth," added Marc-André Richer, GCM's vice-president of business development.
"Thanks to its world-renowned engineering schools, Québec can count on an impressive pool of future engineers. These engineers must have access to long-term capital so they can realize their dreams here and elsewhere while helping Québec face the many environmental and technological challenges of the years ahead," said Gilles Poulin, Vice-President, Aerospace, Transportation and Services (Private Equity and Impact Investing), at the Fonds de solidarité FTQ.
"The transfer from one generation of shareholders to the next is a big challenge for a company the size of GCM Consultants, that can entail multiple financial, fiscal, legal and especially human issues. We are proud to reinvest in GCM Consultants, which has taken the time to develop an orderly succession plan that will foster its growth as a Québec-based company, both at home and elsewhere in Canada," said Peter Rayes, regional vice-president of Fonds régionaux de solidarité FTQ Montréal, a GCM partner since 2019.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 734,580 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $18.3 billion in net assets as at November 30, 2021, the Fonds has supported more than 3,400 partner companies and over 247,000 jobs.
About the Fonds régionaux de solidarité FTQ
A part of the Fonds de solidarité FTQ network, the Fonds régionaux de solidarité FTQ help further regional economic development in Québec by channelling the savings of 734,580 Quebecers into local investments. The Fonds régionaux have invested $1.15 billion in 1,500 companies since their inception in 1996, supporting nearly 55,500 jobs.
SOURCE Fonds de solidarité FTQ
Press contact: Patrick McQuilken, Senior Advisor, Media Relations, Fonds de solidarité FTQ, Telework phone number: 514 703-5587, Email: [email protected]; Marc-André Richer, Vice-President, Business Sustainability, GCM Consultants, Telephone: 514 351-8350, Email: [email protected]
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