CDPQ

AvidXchange Announces Board Additions and Transitions

Retrieved on: 
Tuesday, March 26, 2024
Opus, Constellation, UnitedHealth Group, Health, AlixPartners, Sale, Engineering, Oni, McKinsey & Company, Audit, Private equity, Risk, TeamHealth, Bain Capital Ventures, Software, KKR, Compensated emancipation, AP, CDPQ, Business administration, Cornell University, Harvard Business School, SAP, University, IPO, Royal, Risk management, Culture, PKS, Growth, Allied Universal, MBA, SAP AG, Event management software, Partner, AJ, Tech, Management

CHARLOTTE, N.C., March 26, 2024 (GLOBE NEWSWIRE) -- AvidXchange Holdings, Inc. (Nasdaq: AVDX), a leading provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, today announced the appointment of two new Board members – Oni Chukwu and Arthur J. (“A.J.”) Rubado. Mr. Chukwu was elected by the Board to serve as a Class I director of the Company effective upon the resignation of Ms. Murdock. Mr. Rubado was elected by the Board to serve as Class III director of the Company effective upon the resignation of Mr. Harris. Messrs. Chukwu’s and Rubado’s terms will expire at the annual meeting of the Company’s stockholders to be held in 2025 and 2024, respectively. The appointments maintain the number of directors at nine, eight of whom are independent.

Key Points: 
  • Mr. Chukwu was elected by the Board to serve as a Class I director of the Company effective upon the resignation of Ms. Murdock.
  • Mr. Rubado was elected by the Board to serve as Class III director of the Company effective upon the resignation of Mr. Harris.
  • I wish them all the best,” stated Michael S. Praeger, Chairman and Chief Executive of AvidXchange Holdings, Inc.
    Concurrent with the aforementioned additions, AvidXchange announced that Matthew Harris and Wendy Murdock have resigned from the Board and any committees on which they served, effective March 21, 2024.
  • Both joined the AvidXchange Board, prior to the Company’s IPO, in connection with the Company’s institutional capital raises.

ProAmpac to Acquire Gelpac From an Investor Group Led by Namakor, and Supported by W Investments

Retrieved on: 
Wednesday, March 13, 2024
Supply Chain Management, Packaging, Retail, Chemicals, Plastics, Environment, Sustainability, Manufacturing, Growth, Health, Agriculture, Partnership, CDPQ, Acquisition, Food, Investment, Kirkland

ProAmpac , a global leader in flexible packaging and material science, and Gelpac , a premier producer of multiwall paper and poly-woven packaging products, today announced the signing of a definitive agreement under which ProAmpac will acquire Gelpac from an investor group led by NAMAKOR Holdings (“NAMAKOR”), including Groupe W Investissements (“W Investments”) and CDPQ.

Key Points: 
  • ProAmpac , a global leader in flexible packaging and material science, and Gelpac , a premier producer of multiwall paper and poly-woven packaging products, today announced the signing of a definitive agreement under which ProAmpac will acquire Gelpac from an investor group led by NAMAKOR Holdings (“NAMAKOR”), including Groupe W Investissements (“W Investments”) and CDPQ.
  • Combining Gelpac and ProAmpac will allow the company to better serve customers in the high-growth food and beverage, agriculture, industrial and pharmaceutical end markets.
  • “Gelpac shares ProAmpac’s commitment to serve customers across the U.S. and Canada with high-performance, sustainability-focused flexible packaging solutions,” said Greg Tucker, Founder, Vice Chairman and Chief Executive Officer of ProAmpac.
  • Gelpac was represented by Fasken Martineau DuMoulin L.L.P and Bradley L.L.P and Mesirow served as the exclusive sell-side advisor to Gelpac.

Nuvei enters into agreement to be taken private by Advent International, alongside existing Canadian shareholders Philip Fayer, Novacap and CDPQ at a price of US$34.00 per share

Retrieved on: 
Monday, April 1, 2024
Hierarchy, Multiple, Special, History, Bank statement, BMO Capital Markets, Partnership, Committee, Minority, Risk, EDGAR, Toronto Stock Exchange, Head, Advent International, Arrangement, Willkie Farr & Gallagher, Related, Kirkland & Ellis, Schedule, Blake, Cassels & Graydon, CDPQ, Regulation, Meeting, TSX, Canada Business Corporations Act, RBC Capital Markets, E-commerce, Norton Rose Fulbright, Growth, LLP, Security (finance)

MONTREAL, April 1, 2024 /PRNewswire/ -- Nuvei Corporation ("Nuvei" or the "Company") (Nasdaq: NVEI) (TSX: NVEI), today announced that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") to be taken private by Advent International ("Advent"), one of the world's largest and most experienced global private equity investors, with the support of each of the Company's holders of multiple voting shares ("Multiple Voting Shares"), being Philip Fayer, certain investment funds managed by Novacap Management Inc. (collectively, "Novacap") and CDPQ, via an all-cash transaction which values Nuvei at an enterprise value of approximately US$6.3 billion. The Company will continue to be based in Montreal.

Key Points: 
  • Nuvei will benefit from the significant resources, operational, and sector expertise, as well as the capacity for investment provided by Advent.
  • Philip Fayer will remain Nuvei's Chair and Chief Executive Officer and will lead the business in all aspects of its operations.
  • Fayer continued: "Our strategic initiatives have always focused on accelerating our customers revenue, driving innovation across our technology, and developing our people.
  • Bringing in a partner with such extensive experience in the payments sector will continue to support our development."

CDPQ announces the appointment of Rana Ghorayeb as Executive Vice-President and Head of Real Estate

Retrieved on: 
Thursday, March 21, 2024
Real estate, Growth, TIAA, JPMorgan Chase, Environment, CDPQ, Empathy, Knowledge, Infrastructure, Senior, Courage, Diplomacy, Investment, Heart, Partnership

MONTRÉAL, March 21, 2024 /PRNewswire/ - CDPQ today announced the appointment of Rana Ghorayeb as Executive Vice-President and Head of Real Estate.

Key Points: 
  • MONTRÉAL, March 21, 2024 /PRNewswire/ - CDPQ today announced the appointment of Rana Ghorayeb as Executive Vice-President and Head of Real Estate.
  • Rana Ghorayeb has served as President and Chief Executive Officer of Otéra Capital, a CDPQ subsidiary specialized in real estate lending, for nearly five years.
  • Before joining CDPQ in 2012, Rana Ghorayeb already had an impressive track record in real estate in renowned institutions.
  • Rana Ghorayeb will start in her new position on the same date, and will report to the President and Chief Executive Officer of CDPQ.

First Advantage to Acquire Sterling Check Corp. for $2.2 Billion in Cash and Stock

Retrieved on: 
Thursday, February 29, 2024
Acquisition, Barclays, Royal Bank of Canada, STER, Royal Bank, Private equity, Simpson Thacher & Bartlett, Bank, RBC Capital Markets, Transport, Growth, Goldman Sachs, CDPQ, First, Bank of Montreal, Adjustment, Risk, Webcast, Organization, BofA Securities, EPS, Bank of America, FA, VWAP, Security (finance)

First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling’s outstanding debt.

Key Points: 
  • First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling’s outstanding debt.
  • First Advantage will share additional forward-looking financial information regarding the transaction’s impact at or around the time of closing.
  • The transaction consideration is comprised of approximately $1.2 billion in cash and 27.15 million shares of First Advantage common stock.
  • Under the terms of the agreement, Sterling shareholders will elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock for each Sterling share.

CDPQ to Sell 2,312,000 Common Shares of Intact Financial Corporation

Retrieved on: 
Monday, February 26, 2024
CFO, WIRE, Intact Financial, BMO Capital Markets, TSX, CDPQ, NOT, Indian stock exchange, P&C, Intact, NEWS, Security (finance)

MONTREAL, Feb. 26, 2024 (GLOBE NEWSWIRE) --

Key Points: 
  • /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
    CDPQ announced today that it will sell 2,312,000 common shares ("Common Shares") of Intact Financial Corporation (TSX: IFC) representing approximately 1.3% of the issued and outstanding Common Shares of IFC as of February 26, 2024 (the “Offering”).
  • After giving effect to the trade, CDPQ will continue to hold approximately 8.9% of the issued and outstanding Common Shares of IFC.
  • Following this transaction, CDPQ remains a key shareholder of Intact.
  • “CDPQ continues to be a valued partner in Intact’s evolution as a leading international P&C insurer, and will remain our largest shareholder following this transaction,” said Louis Marcotte, Executive Vice President and CFO, Intact Financial Corporation.

General Atlantic Announces Investment in Plusgrade, Joining Existing Investor CDPQ

Retrieved on: 
Monday, March 4, 2024
Software, Professional Services, Vacation, Cruise, Public Transport, Technology, Lodging, Destinations, Travel, Rail, Transport, Finance, Acquisition, Growth, CDPQ, Scotiabank, General Atlantic, Goodmans, Acceleration, Consumer, Barclays, Head, Partnership

General Atlantic, a leading global growth investor, today announced a strategic growth investment in Plusgrade, a global leader powering ancillary revenue solutions for the travel industry.

Key Points: 
  • General Atlantic, a leading global growth investor, today announced a strategic growth investment in Plusgrade, a global leader powering ancillary revenue solutions for the travel industry.
  • With this transaction, Novacap will fully exit its stake in Plusgrade, and existing investor CDPQ will remain a significant shareholder.
  • General Atlantic intends to partner with Plusgrade to support the company’s continued growth, including through the acceleration of new business segments and go-to-market efforts, strategic M&A opportunities, and key operational initiatives.
  • Barclays served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor and Goodmans LLP served as co-counsel to General Atlantic.

QSL to drive further growth with iCON and CDPQ as new shareholders

Retrieved on: 
Friday, February 23, 2024
Capstone Infrastructure, QSL, Icon, Growth, CDPQ, Investment, Partnership

QUÉBEC, Feb. 23, 2024 /CNW/ - QSL International Ltd. ("QSL") is pleased to announce the arrival of new shareholders: funds advised by iCON Infrastructure LLP ("iCON"), CDPQ and the QSL management shareholders already active in the company's capital.

Key Points: 
  • QUÉBEC, Feb. 23, 2024 /CNW/ - QSL International Ltd. ("QSL") is pleased to announce the arrival of new shareholders: funds advised by iCON Infrastructure LLP ("iCON"), CDPQ and the QSL management shareholders already active in the company's capital.
  • QSL will remain headquartered in Québec and the company will continue to be led by the current executive leadership team.
  • iCON and CDPQ are supportive of QSL's growth strategy, including investing in new projects, particularly in Québec.
  • Working together, we will enable QSL to pursue an ambitious growth plan, in which Québec will remain the hub".

CDPQ acquires 80% stake in a solar plant in Japan

Retrieved on: 
Wednesday, February 14, 2024
Investment, Acquisition, Inuyama, CAD, Growth, CDPQ, Partnership, Renewable energy

The Inuyama project, which went into operation in the last few days, has a total solar power generation capacity of 31 MW, enough to power the equivalent of 7,850 homes.

Key Points: 
  • The Inuyama project, which went into operation in the last few days, has a total solar power generation capacity of 31 MW, enough to power the equivalent of 7,850 homes.
  • The solar power plant is located in Aichi prefecture.
  • Oliver Senter, Executive Officer of Shizen Energy responsible for Investment & Finance, said: "We are delighted to announce a first co-investment project between CDPQ and Shizen.
  • We have a pipeline of around 3 GW of renewable energy projects in Japan, which we hope to deliver in the next three to five years."

CDPQ invests $125 million to accelerate Levio's growth

Retrieved on: 
Tuesday, February 13, 2024
Acquisition, Capital market, Growth, CDPQ, Digital, Risk, Consultant, Organization, Head, Partnership

Founded in 2014 and now present in five countries, the company specializes in supporting institutional and corporate clients when planning, managing and executing large-scale digital transformation programs.

Key Points: 
  • Founded in 2014 and now present in five countries, the company specializes in supporting institutional and corporate clients when planning, managing and executing large-scale digital transformation programs.
  • "CDPQ is proud to partner with Levio to support its expansion plan, which will grow its North American presence and consolidate its position in the market.
  • Digital transformation is central to the sustainability and productivity of organizations, and this partnership is perfectly in line with our investment priorities and supports the company's growth," said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ.
  • This agreement provides us with significant financial leverage to continue building partnerships with our clients to execute large-scale digital transformations."