The move is part of 'an ambitious strategy' to strengthen the group's position as a key player in steel processing
Québec’s Honco Group, a longstanding force in the steel processing industry, is set to accelerate its growth across Canada and global markets, following new equity investments from La Caisse de dépôt et placement du Québec (formerly CDPQ) and Investissement Québec.
Both institutional investors have acquired minority stakes in the group, with Honco’s leadership team also taking on a shareholder role to align long-term interests. The investment also marks a significant milestone for the Lévis-based company, solidifying its Québec ownership structure while fueling a broader expansion strategy.
"We are delighted to have the support of outstanding partners such as La Caisse and Investissement Québec as we embark on this new phase of growth for the Honco Group," said Francis Lacasse, president and CEO of Honco Group, in a press release.
"These major investments are a significant turning point for our family business,” he added. “They give us the means to achieve our ambitions as a leading player in steel processing in Canada while remaining true to our values."
The deal notably signals growing momentum behind Québec’s advanced manufacturing sector, with public capital increasingly aligned with private sector innovation and export ambition.
For La Caisse, which led the transaction, the move underscores its ongoing commitment to scaling Québec-based industrial firms with global potential.
"La Caisse is proud to partner with the Honco Group and the Lacasse family to support this leading Québec manufacturing company’s expansion," said Kim Thomassin, executive vice-president and head of Québec at La Caisse, in a statement. "This milestone marks an important step in our approach to value creation and will help accelerate business unit growth, both in Canada and in global markets."
According to the release, the move is part of an ‘ambitious strategy’ to reinforce Honco Group's position as a leading player in the steel processing industry as the company is capitalizing on its technical expertise, advanced production capabilities, and diversified market presence to drive expansion.
Its growth is anchored in six specialized divisions: Honco Buildings, a general contractor focused on prefabricated steel structures; Sturo Métal, which handles structural steel manufacturing and installation; Supervac, a designer and builder of vacuum and hydro excavation equipment; Garex, a garage door manufacturer; Ridge Nassau, which produces garage door hardware; and Métalec, specializing in commercial and industrial steel doors and frames.
Collectively, these units employ close to 500 professionals across the organization.
