The Caisse de dépôt et placement du Québec and BMO Capital Partners are investing $20 million in Corporation de développement Nautilus Plus, which owns the largest corporate network of fitness centres in Quebec.
The investment, made equally by the Caisse and BMO, will enable them to acquire a block of shares of the company and Nautilus Plus to continue expanding its network.
“This financing enables us to support a well-established Quebec company that has become a leader in its industry,” says Normand Provost, the Caisse’s executive vice-president, private equity. “With its expansion of recent years, Nautilus Plus has increased its market share and offers our depositors attractive long-term returns.”
Nautilus Plus operates a network of 39 fitness centres mainly in the Montreal and Quebec City areas as well as in the Outaouais region.