Desjardins Capital and Investissement Québec partner with
Amisco Industries management to maintain Québec ownership
Additional resources for continued growth at
one of the largest Côte-du-Sud employers
L'Islet (QC), June 29, 2018 - Desjardins Capital and Investissement Québec, along with the Poitras family, have become shareholder-partners of Amisco Industries Ltd. ("Amisco"), a true Côte-du-Sud manufacturing flagship with more than 300 employees, in its Saint-Pascal and L'Islet plants. A designer, manufacturer and marketer of home furniture, Amisco is an industry standout owing in particular to its innovative business model, and the quality and broad range of furniture it offers, over 50% of which is sold in the United States.
"As entrepreneurs, we're extremely proud we can now count on solid partners like Desjardins Capital and Investissement Québec. This will allow us to continue our growth and take Amisco to new heights. We're delighted to welcome these new partners into our share ownership, since we'll remain shareholders and continue, with the management team, to manage day-to-day operations, drawing on our in-depth knowledge of the North American market," said Réjean Poitras, President and Chief Executive Officer of Amisco.
"Our greatest pride is to see that entrepreneurial champion Amisco has the means to continue its expansion, while remaining Québec-owned," said Luc Ménard, Chief Operating Officer of Desjardins Capital, who served as investment leader. "In concrete terms, hundreds of jobs have been retained in the L'Islet and Kamouraska areas. It's also the expertise inherited from the Poitras family that'll continue expanding the reach of innovative products from this SME with deep roots in its surrounding communities."
"Amisco is an industry leader and a flagship for L'Islet and Saint-Pascal business. Its performance is impressive: over the years, it has weathered numerous economic fluctuations in its market, while maintaining its productivity and efficiency. A standout from international competitors, Amisco still intends to innovate and take part in the Fourth Industrial Revolution. At Investissement Québec, we chose to invest because we believe that Amisco has all the hallmarks of an innovative, world-class manufacturer," said Pierre Gabriel Côté, President and Chief Executive Officer of Investissement Québec.
About Amisco Industries Ltd.
A family business since 1954, Amisco designs, manufactures and markets modern home furniture crafted from steel, wood and upholstery in its two Québec plants. Distributed in more than a thousand points of sale across Canada and the United States, Amisco products stand out from the competition by their trendy look tailored to consumer needs, their durability and their extensive customization program for finishes and coatings.
About Desjardins Capital
Nearly 45 years strong, Desjardins Capital (previously Desjardins Venture Capital) has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2 billion, Desjardins Capital helps contribute to the longevity of more than 450 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to create and maintain more than 67,000 jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit our website.
About Investissement Québec
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees, and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
For more information:
Amisco Industries Ltd.
President and Chief Executive Officer
Spokesperson, Media Relations
1-866-835-8444, ext. 5563163
Senior Manager, Public and