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Versaprofiles to remain a Canadian-owned business with the contribution of the next generation of entrepreneurs
Desjardins Capital becomes minority shareholder in the Quebec-based business specialized in thermoplastic extrusion
Saint-Lazare-de-Bellechasse – Serge Mercier, sole proprietor of Versaprofiles since 2017 and president since 2011, has sold the majority of his shares to Desjardins Capital, Versaprofiles sales manager Philippe Côté and Versaprofiles director of administration and finance Chantal Guillemette. This SME employs 80 people across 2 factories in Saint-Lazare-de-Bellechasse and Sainte-Claire. Mr. Mercier will stay on as CEO and a minority shareholder. There is no majority shareholder.
“I’m so proud to see Chantal and Philippe become co-shareholders. Combined, they have 18 years of experience at Versaprofiles,” says Mr. Mercier. “I really wanted company ownership to stay in Quebec. A US investment fund offered to buy me out, but in the end, only Desjardins Capital’s offer allowed the next generation to become shareholders.”
The terms of the transaction are confidential, but Philippe Côté and Chantal Guillemette provided some background on the company. “Versaprofiles has a wonderful team. We’re proud to be the actual exclusive provider of plastic pipes for natural gas distribution for Énergir in Quebec. We’re known as the Canadian leader in geothermal loop systems, thanks in part to a major contract on the Vancouver International Airport expansion in 2019, and we have other exciting projects lined up in the US. This succession plan is ideal because it’s focused on continuity, and it’s with a partner, Desjardins Capital, that believes in the value of operational independence for businesses in its portfolio.”
“We believe in Versaprofiles’ growth plan and the synergy of the 3 managing shareholders,” says Yves Calloc’h, interim Chief Operating Officer of Desjardins Capital. “We’re proud to help keep in Canada the ownership of this fine business. Versaprofiles’ drive to keep innovating really sets them apart from the competition. By purchasing these shares, we’re not just helping save local jobs, we’re supporting cutting-edge expertise, especially in geothermal energy, which looks promising for reducing greenhouse gas emissions.”
Versaprofiles has over 50 years of experience in thermoplastic extrusion in the geothermal, natural gas distribution, maple sap tubing and potable water industries. The Bellechasse-based business employs 80 people and works primarily in Canada and the US. Over the past 3 years, the company has invested nearly $4 million to upgrade their Saint-Lazare-de-Bellechasse factory. To learn more, visit www.versaprofiles.com.
About Desjardins Capital
For nearly 45 years, Desjardins Capital has fulfilled its mission to promote, support and nurture Quebec SMEs. With $2.4 billion in assets under management as at June 30, 2020, Desjardins Capital helps contribute to the longevity of approximately 530 companies, cooperatives and funds in various sectors across Quebec. In addition to helping create and maintain more than 80,000* 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 or LinkedIn page.
*As at December 31, 2019
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