BDC Capital investing $5M in DERYtelecom successor
BDC Capital together with Caisse de dépôt et placement du Québec, Capital croissance PME (CCPME) are investing $15 million in DERYtelecom to facilitate a transfer of ownership within the company and reinforce its growth projects. La Caisse, Capital croissance PME – an investment fund capitalized in equal shares by la Caisse and Capital régional et coopératif Desjardins – and BDC Capital are each investing $5 million in the form of subordinated debt.
DERYtelecom is a company well established for more than 60 years and provides cable, Internet and telephone services to 98 municipalities throughout the regions of Saguenay—Lac-Saint-Jean, Charlevoix, Portneuf, Beauce, Bas-Saint-Laurent, Outaouais and Lanaudière.
“This investment is the implementing of a transfer process ensuring DERYtelecom’s sustainability as a regional company, at a time where other Québec enterprises are being transferred to outside interests. We would like to thank our partners for their support and significant contribution allowing us to preserve local jobs and maintain our actual growth while providing quality telecommunication services across the regional municipalities of Québec,” stated DERYtelecom Director-General, Bryan Godbout.
“This investment facilitates the company’s succession and is perfectly aligned with la Caisse’s strategy focused on high-performing Québec businesses. DERYtelecom, established in several regions of Québec, is a company with solid growth prospects,” said Christian Dubé, Executive Vice-President, Québec at la Caisse.
“This transaction ensures the sustainability of a landmark in Québec’s telecommunications sector. With its head office in Saguenay, DERYtelecom plays a major role, particularly in the region, and generates many quality jobs,” said Marie-Claude Boisvert, Chief Operating Officer, Desjardins Business Capital régional et coopératif, who oversees the management of the Capital croissance PME fund.
“The owners of DERYtelecom and the executives who are taking over the company prepared the transfer in exemplary fashion,” said Patrick Latour, Senior Vice President, Growth & Transition Capital at BDC Capital. The Growth & Transition Capital group at BDC Capital specializes in innovative and customized financial products such as subordinated loans. “We are very proud to be partners in this transition and to contribute to the continued growth of DERYtelecom,” added Mr. Latour.