CDPQ invests $36.5 million in Eddyfi
16/06/2017
Caisse de dépôt et placement du Québec (CDPQ) has announced an investment in Eddyfi, a manufacturer of advanced non-destructive testing (NDT) solutions. The CA$36.5 million investment combines a minority stake and a credit facility to fund the acquisition plan of the company.
Headquartered in Québec City, Eddyfi develops, manufactures and commercialises NDT inspection technology globally – instruments, software and sensors – for the inspection of key assets in the power generation, petrochemical and aerospace industries, to name a few. Eddyfi’s high-performance systems are used to assess the structural integrity of critical components and prevent downtime, financial losses and casualties.
With the implementation of its growth plan, Eddyfi is well-positioned to reinforce its status as a global industry leader. Its technologies are perfectly suited to respond to global market trends, such as widespread ageing critical infrastructure and increased inspection standards imposed on nuclear plants and oil & gas assets, for example.
“This transaction is well aligned with our commitment to help Québec companies expand internationally as part of their growth strategy,” said Christian Dubé, Executive Vice President, Québec at la Caisse. “Over the years, Eddyfi has innovated by investing in technologies to provide increasingly effective solutions better tailored to its clients’ needs. Today its equipment and software are recognised in more than 70 countries.”
“Over the coming years, our growth will be focused in particular on strategic acquisitions. After the acquisition of Silverwing and IPN in 2016, adding a financial partner became essential. However, we needed to be careful in selecting the partner that would best support our culture and style and be aligned with the ambitions and the dynamics of our industry. Without a doubt, CDPQ is the perfect partner for Eddyfi,” said Martin Thériault, President and Chief Executive Officer of Eddyfi.
Eddyfi currently has close to 200 employees working in its offices based in Canada, France, the United Kingdom, the United States, the United Arab Emirates and South Africa.
