The Caisse de dépôt et placement du Québec and Investissement Québec are each acquiring a minority stake in Quebec-based steelmaker the Honco Group.
The transaction consolidates the company’s Quebec-based ownership while accelerating its Canadian and international expansion, according to a press release.
“This milestone marks an important step in our approach to value creation and will help accelerate business unit growth, both in Canada and in global markets,” said Kim Thomassin, executive vice-president and head of Québec at the Caisse, in a press release.
The Caisse is also partnering with global alternative asset manager TPG to acquire a majority interest in U.S.-based electrical infrastructure engineering firm Pike Corp. Terms of the transaction weren’t disclosed.
“As a global investor with significant exposure to the power and energy sector, the Caisse understands the critical role service providers like Pike play in ensuring grid reliability and resilience,” said Martin Longchamps, executive vice-president and head of private equity and private credit at the Caisse, in a press release. “Together with TPG, we’re investing in the growth of a proven leader supporting the backbone of the country’s energy network.”