Press Release
For immediate release
CMP Advanced Mechanical Solutions establishes a partnership with the Fonds de solidarité FTQ and strengthens its position to pursue its growth into disruptive and emerging markets
CHATEAUGUAY, QC, October 17, 2022 – CMP Advanced Mechanical Solutions (CMP), a North American leader in the fabricating of innovative advanced metal products and mechatronic solutions, is proud to announce today it has reached an agreement with the Fonds de solidarité FTQ, who will become a minority shareholder in the company.
This partnership will allow CMP to tap into the major growth potential of some of its markets. Established more than 50 years ago, CMP has always been at the forefront of innovation and specializes in manufacturing for disruptive industries that are pushing innovation, such as energy storage, automation warehouse logistics solutions, security and light rail and transport. CMP’s plans include further investments to increase automation and to expand its facilities with the construction of a zero carbon plant by Q1 2023.
“We are delighted to announce this agreement with the Fonds de solidarité FTQ. At CMP, we pride ourselves on three key elements: providing value-added product design solutions for these disruptive markets, continuously innovating and developing solutions that are respectful of the environment, and maintaining a corporate culture based on human values and the contribution of all employees in our company’s success. In our search for a partner, the alignment between our corporate values was an essential criteria. We have found in the Fonds a partner who shares these values and we are confident that our culture and the well-being of our employees, which we hold dear, will be preserved. We also strongly believe that this new partnership will fuel our growth in both Canada and in the United-States, enabling us to create more than 250 highly-skilled jobs over the next three years. This partnership also allows CMP to strengthen its position as an employer of choice. The company has initiated a new RRSP program, in collaboration with the Fonds, which provides an enhanced competitive compensation plan for its employees. CMP’s compensation plans are amongst the most competitive in the market.” – Steve Zimmermann, President and CEO of CMP Advanced Mechanical Solutions.
“CMP has amazed us with its willingness to constantly develop new technologies and to continually reach new heights in environmental matters. We are proud to invest in a company that shows us that with will and determination, it is possible to achieve net-zero emissions. This transaction will also enable the Châteauguay-based company to reach its full potential and to increase its presence in the North American market. The Fonds de solidarité FTQ will always be there to help local companies stand out, both environmentally and entrepreneurially,” said Dany Pelletier, Senior Vice-President, Private Equity and Impact Investments at the Fonds de solidarité FTQ.
PricewaterhouseCoopers Corporate Finance Inc. and Stikeman served as financial and legal advisors on the transaction.
About CMP Advanced Mechanical Solutions
CMP Advanced Mechanical Solutions is a leader in the design, engineering and manufacture of mechanical, sheet metal and machined systems and enclosures. Considered one of North America’s earliest adopters of Industry 4.0, CMP has been a leader in leveraging the benefits of automation and data exchange within its manufacturing technologies through the deployment of VKS (Visual Knowledge Share). With manufacturing facilities and nearly 650 employees in both Canada and the United States, CMP provides custom fabricated solutions to its customers in a broad range of industries. CMP Advanced Mechanical Solutions, which was awarded one of Canada’s Best Managed Companies in 2022, is a privately held company. For more information: www.cmp-ams.com
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channeling the savings of its 734,580 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centered world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $18.3 billion in net assets as at November 30, 2021, the Fonds has supported more than 3,400 partner companies and over 247,000 jobs.
Source: CMP Advanced Mechanical Solutions
For further information:
Mylène Demers
(514)261-5840
mdemers@casacom.ca