Sagard Private Equity Canada Reaches CAD $400 Million in Committed Capital
Sagard announced this week that while fundraising efforts are still underway, its first private equity fund, Sagard Private Equity Canada, has achieved its initial target fund size of $400 million ahead of schedule.
SPEC's goal is to be the partner of choice for Canadian mid-market entrepreneurs on their quest to become market leaders. Sagard believes SPEC is well-positioned to create value through its seasoned investment team, differentiated approach and powerful network.
"We are very pleased to be reaching this milestone so quickly and look forward to welcoming new investors as our fund remains open for additional commitments," said Marie-Claude Boisvert, partner and head of SPEC. "We will continue to focus on investing diligently in Canadian mid-market companies with aligned management teams, resilient business models, strong cash flows, and defensible market positions – those are the companies we want to partner with to catalyze growth."
"Today's announcement is a testament to the talent and expertise of Marie-Claude Boisvert and the talented team she has assembled with Patrick Daignault,” said Paul Desmarais III, chairman and CEO of Sagard. “We are proud of her leadership and grateful for the support we have received from our limited partners."
SPEC has invested in leading Québec rental company Groupe Lou-Tec, which recently acquired Accès Location+, the aerial lift equipment rental specialist. This transaction will strengthen Lou-Tec's position as a Québec leader in heavy machinery equipment rental.
For more on Lou-Tec’s acquisition of Accès Location+, visit https://www.rermag.com/home/article/21245056/qubecs-largest-rental-company-groupe-loutec-acquires-lift-specialist-accs-location
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.