Desjardins partners with Norbec to maintain the company in Quebec
Norbec is a Canadian leader in the manufacturing and installation of prefabricated
walk-in coolers-freezers and a leader in Quebec in the manufacturing
of insulated architectural steel panels.
Boucherville, February 6, 2017 - An investment from Capital régional et coopératif Desjardins (CRCD) will allow co-founders, Dominique Majeau and Jean-Pierre Gingras, to gradually transfer the ownership to the management team. With two plants, one in Boucherville and another in Saint-Hyacinthe, and 200 employees, Norbec is well positioned to grow in its key markets.
For Luc Ménard, Chief Operating Officer of CRCD, the capital injected in Norbec will bridge two generations of entrepreneurs. "I applaud the decision of Ms. Majeau and Mr. Gingras to keep this flagship company in Quebec. By becoming the majority shareholder in the business, CRCD enables the company to protect jobs and remain in the region where it has flourished. The founders will retain ownership in the company and management will have an opportunity to become shareholders in the coming years," he said.
For co-founders Jean-Pierre Gingras and Dominique Majeau, Outgoing President of Norbec and Member of the Board of Directors respectively, choosing CRCD as a financial partner was an obvious choice. "We share the same values of promoting regional development. We foresee a transition that will respect the culture and the way of doing business that has made this company the leader it is today," they said.
Jan Lembregts, appointed to head the company and an investor himself, recognizes that entering into this type of partnership is very strategic. "It allows us to keep Norbec's ownership and operations in Quebec. Most importantly it provides stability for the business, its employees and its customers. This partnership creates the winning conditions to continue the growth.
About Norbec Group
Since it was founded in 1982, Norbec Group has continued to develop and grow year after year. The Quebec-based company has two subsidiaries and employs 200 people. Norbec systems is a Canadian leader in the manufacturing and installation of prefabricated and custom walk-in coolers-freezers. Norbec Architectural, is a leader in the Quebec market in the manufacturing of insulated architectural panels for building envelopes. Norbec Group has earned an enviable reputation as a leader in many sectors including supermarkets, restaurants, food processing facilities, cold storage, hospitals and research centres. www.norbec.com
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 CRDC as the driving force, form an entrepreneurial network designed to value and nurture the best of Quebec entrepreneurs. Through its network, CRCD directly and indirectly supports the growth of over 410 businesses, cooperatives and funds in various industries spanning all of Quebec, helping to create and retain more than 68,000 jobs. www.capitalregional.com