CDPQ joins Quebec-based shareholders group for the company
CDPQ has confirmed its acquisition of a minority stake in Solotech, a global player in audiovisual and entertainment technology. Since 2013, Solotech has been under the ownership of Quebec-based shareholders, namely Claridge, Investissement Québec, Desjardins Capital — and now joined by CDPQ.
The move marks the largest investment in Solotech since 2013 and aims to bolster the company's international growth and open new avenues for their teams. Solotech has completed 10 acquisitions since 2018. It currently employs 2,000 employees across 20 locations across North America, Europe, and Asia.
“With this investment — the largest in the last decade for Solotech — CDPQ will support the company in its next growth stage. Aligned with CDPQ's priorities, this means not only shifting activities into high gear, but also facilitating the company's global expansion and promoting its audiovisual and technological know-how,” says Kim Thomassin, executive vice-president and head of Québec at CDPQ.
Solotech, recognized for its audio, video, lighting, rigging, and staging systems, has established itself globally in various markets, including music, sports, business, transportation, culture, and education.
The company, ranked fifth among the top 50 system integrators worldwide, has worked on projects such as Resorts World Las Vegas, Outernet, Tottenham Hotspur Stadium in London, and Disney World.
“CDPQ's commitment is a gauge of confidence in our business model, and their financial investment will allow us to seize new business opportunities as a global audiovisual and technology consolidator,” says Martin Tremblay, president and CEO at Solotech.
“We enthusiastically welcome a new world-class partner like CDPQ. We firmly believe that we will benefit from an expansive additional network that will enhance our perspectives on the Board of Directors, notably in terms of growing Solotech,” says Pierre Boivin, chair of the board of directors at Solotech.
“Serving clients around the world is the genesis of our expansion, and even today it's what motivates us to offer quality service and the best technology for their ambitious projects,” Tremblay adds.
