CMP Advanced Mechanical Solutions partners with Fonds de solidarité FTQ
by CM Staff
CMP's plans include further investments to increase automation and to expand its facilities with the construction of a zero carbon plant by Q1 2023.
CHÂTEAUGUAY — CMP Advanced Mechanical Solutions (CMP), a manufacturer of advanced metal products and mechatronic solutions, announces on Oct. 17 that it has reached an agreement with the Fonds de solidarité FTQ, who will become a minority shareholder in the company.
This partnership will allow CMP to tap into the growth potential of some of its markets. CMP says they have always been at the forefront of innovation and specialize in manufacturing for disruptive industries such as automation warehouse logistics solutions, security and light rail and transport. CMP’s plans include further investments to increase automation and to expand its facilities with the construction of a zero carbon plant by Q1 2023.
“We are delighted to announce this agreement with the Fonds de solidarité FTQ. At CMP, we pride ourselves on three key elements: providing value-added product design solutions for these disruptive markets, continuously innovating and developing solutions that are respectful of the environment, and maintaining a corporate culture based on human values and the contribution of all employees in our company’s success. In our search for a partner, the alignment between our corporate values was an essential criteria. We have found in the Fonds a partner who shares these values and we are confident that our culture and the well-being of our employees, which we hold dear, will be preserved. We also strongly believe that this new partnership will fuel our growth in both Canada and in the United-States, enabling us to create more than 250 highly-skilled jobs over the next three years. This partnership also allows CMP to strengthen its position as an employer of choice. The company has initiated a new RRSP program, in collaboration with the Fonds, which provides an enhanced competitive compensation plan for its employees. CMP’s compensation plans are amongst the most competitive in the market.” – Steve Zimmermann, President and CEO of CMP Advanced Mechanical Solutions.
“CMP has amazed us with its willingness to constantly develop new technologies and to continually reach new heights in environmental matters. We are proud to invest in a company that shows us that with will and determination, it is possible to achieve net-zero emissions. This transaction will also enable the Châteauguay-based company to reach its full potential and to increase its presence in the North American market. The Solidarity Fund QFL will always be there to help local companies stand out, both environmentally and entrepreneurially,” said Dany Pelletier, Senior Vice-President, Private Equity and Impact Investments at the Solidarity Fund QFL.
PricewaterhouseCoopers Corporate Finance Inc. and Stikeman served as financial and legal advisors on the transaction.
