With support from Capital régional et coopératif Desjardins,
Gecko Alliance Group purchased shares held by its U.S. partners
Quebec City, August 29, 2016 - With support from Capital régional et coopératif Desjardins (CRCD), Gecko Alliance Group Inc. announced today that it repurchased 50% of its shares held by its U.S. partners. Both company founders, Michel Authier and Benoît Laflamme, remain the company's shareholder-officers, and CRCD is now a shareholder. A leader in the field of designing, manufacturing and selling control systems, pumps and accessories for spas, Gecko Alliance Group has 160 employees at its head office in Quebec City, and nearly 200 employees in the U.S. and Mexico.
Michel Authier, CEO and Manager of Gecko Alliance Group Inc., is happy to team up with a Quebec partner to help the company expand. "Our destiny is now in our hands. With Capital régional et coopératif Desjardins being a company shareholder, we'll have the resources and expertise we need to help us with our projects and new market development."
Gecko Alliance Group now has more than 360 employees. All research and product development jobs are based in their Quebec City facilities located in the Carrefour du Commerce industrial zone. The company also has facilities in Nevada and Tijuana in Mexico, as well as distribution centres in Quebec, Nevada, China and the Netherlands to serve all markets.
For Luc Ménard, Chief Operating Officer of Desjardins Business Capital régional et coopératif, manager of CRCD, putting the North American flagship back into the hands of Quebec shareholders is promising for the company's future. "The game plan of both company founders is solid and their succession plan is already well established within the management team. Our role will be to support the company over the next few years and give it access to patient capital for potential growth projects."
About Gecko Alliance Group
Founded in 1989, Gecko Group Alliance is a leader in designing and manufacturing control systems, pumps and accessories for spas. The company has been operating for 26 years, and is the supplier for many major spa manufacturers around the world. The head office is located in Quebec and its manufacturing operations are based out of Mexico and Nevada, with warehouses in Europe and China as well. With 360 employees, including some 30 dedicated to new product development and adaptation, Gecko Alliance Group is a strategic partner for spa manufacturers that value innovative and integrated solutions offered by the company.
About Capital régional et coopératif Desjardins
With nearly 100,000 shareholders, Capital régional et coopératif Desjardins (CRCD) is a public company with $1,643 million in net assets. CRCD contributes to Quebec economic development through several levers developed with its manager, Desjardins Business Capital régional et coopératif. These levers, with CRCD as the driving force, form its entrepreneurial ecosystem designed to value and nurture the best of Quebec entrepreneurship. Directly or indirectly through its ecosystem, CRCD supports the growth of over 410 businesses, cooperatives and funds in various industries spanning all Quebec regions, helping to create and retain more than 68,000 jobs. (www.capitalregional.com)
Information (media inquiries only):
418-872-4411, ext. 2324
Capital régional et coopératif Desjardins
418-835-8444 or 1-866-835-8444, ext. 5563163