MONTREAL, April 15, 2021 /CNW Telbec/ - National Bank
Private InvestmentTM today announced the closing of the
first deal for the National Bank SME Growth Fund, L.P., (the
"Fund"), consisting of an investment in the capital of Pol R
Enterprises Inc. ("Pol R"). The deal will enable the company to
complete an important phase of its succession plan and will include
support from National Bank Private InvestmentTM for its
growth and development. Based in Quebec
City, Pol R has close to 400 employees in three separate
business units: distribution and transformation of insulation and
related products (under the Nadeau, Impro, Scotia Insulations and
Nu-West banners); design and manufacture of controlled environments
such as cleanrooms for the health and life sciences sector and
acoustical enclosures that are part of the electrical grid (its
subsidiary Mecart); and the design and fabrication of specialized
products for OEM manufacturers, specifically in the transportation
industry (Artik/OEM unit).
Announced in July 2020, the Fund
was created as part of an equal partnership with the Quebec government and will support
Quebec's economic recovery and the
digital transformation of its small and medium-sized enterprises.
It complements the bank financing available to businesses. With the
participation of more than 245 private investors, National Bank
Private InvestmentTM completed the initial
capitalization of $200 million in
January 2021.
Quotes
"The National Bank SME Growth Fund was created to support
business owners and help them take advantage of opportunities for
growth and fulfill their succession plan. That is exactly what this
deal with Pol R achieves," noted Luc Ménard, Executive
Vice-President, Managing Director and Chief Private Placement
Officer at National Bank. "Pol R makes a significant contribution
to economic and social development. We are pleased to help it
achieve its mission by not only offering some members of the future
management team the opportunity to increase their stake in the
company with this investment, but also by supporting the
implementation of their strategic plan."
"I am proud National Bank Private InvestmentTM chose
us for its very first deal," stated Benoît Poupart, Chief Executive
Officer of Pol R Enterprises Inc. "This is a major step forward in
the company's development and succession plan, which was initiated
a few years ago, and it will ensure the long-term growth and
sustainability of our operations."
Related links
The National Bank SME Growth Fund, L.P., Is Up and Running
National Bank Launches a Venture Capital and Development
Fund
About National Bank of Canada
With $344 billion in
assets as at January 31, 2021,
National Bank of Canada, together
with its subsidiaries, forms one of Canada's leading integrated financial groups.
National Bank has more than 26,000 employees in knowledge-intensive
positions and has been recognized numerous times as a top employer
and for its commitment to diversity. Its securities are listed on
the Toronto Stock Exchange (TSX: NA). Follow National Bank's
activities at nbc.ca or via social media such as Facebook, LinkedIn
and Twitter.
SOURCE National Bank of Canada