Desjardins Capital becomes the majority shareholder of SJM Group, a Canadian leader in innovative solutions for commercial fixtures and storage
Montreal, November 7, 2019 - In line with the desire to protect the Quebec ownership of three flagship manufacturers, Desjardins Capital has acquired the majority of the shares held in Équipement Boni (Saint-Bruno), Etalex and Produits de Fil et Métal FormaFil (Montreal). The 450-employee SJM Group is a Canadian leader in innovative solutions for commercial fixtures and heavy-duty storage systems. The transaction will boost synergy among the three entities and is consistent with the expertise of the Group's managers, who will continue to oversee operations.
The announcement was made by Luc Ménard, Chief Operating Officer of Desjardins Capital. The acronym SJM in the Group name stands for "Société Jacques Majeau," honouring a Quebec builder.
With Desjardins Capital as an equity partner the family business can retain its Quebec ownership while handing management of operations over to SJM Group Management Committee. Thanks to Desjardins Capital's patient capital, the transaction will allow SJM Group to continue its development while bringing a promising next generation on board.
Luc Ménard explained that the terms of the transaction with SJM Group are groundbreaking. "To allow the Group's minority shareholders to gradually and more rapidly regain control of ownership, Desjardins Capital has isolated the ownership of the operating company and become the owner of two SJM Group buildings."
According to the Canadian Venture Capital Association for the first half of 2019, Desjardins Capital ranked first in Quebec for the number of development capital transactions and venture capital transactions.
About SJM Group
SJM Group is a consortium of established Quebec manufacturing companies specialized in the manufacture of equipment for retailers and heavy-duty storage and shelving systems for commercial and industrial applications:
- Etalex Inc. - Company specializing in the food sector and retail chains
- Équipement Boni Inc. - Company specializing in equipment for hardware and pharmacy retailers
- Produits de fil et de métal Formafil Inc. - Manufacturer of metal wire display cases and fittings for heavy-duty storage systems
SJM Group is recognized across Canada for its high-quality products, innovative design and the professionalism of the dedicated people on its teams.