Caisse de dépôt et placement du Québec has acquired 8.7 million additional shares of 5N Plus, a specialty metal and chemical products producer headquartered in Montreal.
Caisse, which has invested in the company before, is investing $14.8 million in acquiring the shares in the secondary market. Now, it holds 15,857,050 common shares and owns 18.93 per cent of the company.
“This significant stake in 5N Plus will allow the company to focus on its growth projects,” said Christian Dubé, executive vice-president of Quebec at Caisse. “The transaction is aligned with our strategy to support Quebec companies which are active in global markets and prioritize innovation as a key part of their development.”
5N Plus products are used in pharmaceutical, electronic and industrial applications, such as solar panels, smartphones and LED bulbs. It operates in Europe, the Americas and Asia and has close to 700 global employees.
“La Caisse plays an active role with Quebec companies, and we see this investment as a vote of confidence in our new management team and, most importantly, in our strategic plan, aimed at cementing our leadership in our industry while creating tangible value for our shareholders,” said Arjang Roshan, president and chief executive officer at 5N Plus.