Norea Capital acquires stake in Stekar

Norea Capital acquires stake in Stekar

BEAUCEVILLE — “More than thirty years after it was founded by Raynald Doyon and his wife Sylvie Poulin, Stekar has reached an important milestone with the introduction of Norea Capital and David Drouin, Business Development manager, into the company’s share capital. This investment of nearly $10 M by Norea Capital will enable us to pursue our growth in Canada and break into the New England market, particularly with our distinctive MultifaçadesTM product, which meets both Canadian and American energy efficiency requirements.”

It was in these terms that Antoine Auger, Stekar’s CEO and shareholder, introduced the so-called “high value-added” partnership with Norea Capital, new private equity shareholder of the company.

“We are shapers of urban heritage, with a passion for a job well done and customer satisfaction,” says Raynald Doyon, who remains a shareholder, strategic advisor and director. “Our succession plan has been meticulously planned since 2011, with the hiring of Antoine Auger as president of Vitralum Pro Installation, our subsidiary, and then as manager of Stekar starting in 2017. I am fully confident that Stekar is poised to reach new heights under Antoine’s leadership.”

Thanks to its turnkey offering, from design to installation of architectural systems for building facades made of glass, aluminum or mixed materials, the company says they’ve completed nearly 1,000 projects since 1993, many of them large-scale throughout Quebec, Ontario and the Maritimes. Stekar operates in the industrial, institutional and government sectors, in conjunction with a number of renowned general contractors. The company sees significant development potential in the Northeastern United States, with a US$137 billion market and an appetite for energy-efficient architectural systems.

Stekar’s Multifacades(TM) was reportedly influential in helping Norea invest in in Stekar, according to Luc Ménard, President and Managing Partner of Norea Capital.