The Ontario Teachers’ Pension Plan is acquiring The Carlyle Group’s majority stake in Logoplaste, a Portugal-based rigid plastic packaging designer and manufacturer of items.

Logoplaste’s products are used by a wide range of global blue-chip clients and its business model centres on the development of strong and long-standing partnerships with customers through dedicated facilities, fully integrated within the customer’s premises, eliminating secondary packaging waste, just-in-time operations and significantly reducing transport needs.

“We see the company as a great fit for our private capital portfolio given their industry leadership, highly resilient business model and strong commitment to sustainability,” said Nick Jansa, senior managing director, of Europe, the Middle East and Africa for the Ontario Teachers’, in a press release.

Read: Ontario Teachers’ committing to net-zero emissions by 2050

In other news, the Caisse de dépôt et placement du Québec has strengthened its partnership with CAE Inc. by investing $475 million while GIC Private Ltd., a sovereign wealth fund based in Singapore is contributing $225 million.

The $700 million investment is part of the funding CAE needed to buy the U.S. company, L3Harris Technologies’, military-training business for US$1.05 billion. The investment by the Caisse will make it CAE’s largest shareholder.

“Supporting the growth and the international expansion of Quebec companies are major pillars of our investment strategy in Quebec” said Kim Thomassin, the Caisse’s executive vice-president and head of investments in Quebec and stewardship investing, in a press release. “CDPQ is pleased to once again invest in CAE and support the company in the execution of its acquisition plan, thereby strengthening its strategic positioning and global leadership in training and simulation solutions.”

Read: Caisse investing further in flight training company