The Caisse de dépôt et placement du Québec has purchased 5.84 million additional shares in SPIE, a European multi-technical services provider.

The investment, which totals more than $151 million, is in addition to shares the Caisse has been adding to since 2011, bringing its total investment in the company to more than $422 million.

Read: Caisse posts 3.3% return for first half of 2018, despite volatility

“Being a shareholder since 2011, we have learned about SPIE’s fundamentals, which contribute to the company’s success: the quality of its services, the soundness of its business model and the experience of its management team,” said Stephane Etroy, executive vice-president and head of private equity at the Caisse, in a press release. “With this new investment, we are pleased to continue supporting the company’s growth over the long term.”

The company designs, builds, operates and maintains energy-efficient and eco-friendly facilities. Its business includes electrical, mechanical and heating, ventilation and air conditioning services, as well as voice, data and image communications systems.

Read: BCI returns 9% in fiscal 2018, buoyed by global equities

In other investment news, an investor group that includes the British Columbia Investment Management Corp. has completed its acquisition of Verifone Systems Inc., a global payment and commerce solutions company. The acquisition was led by private equity firm Francisco Partners.

“Verifone’s payments technology is critical to the operation of merchants around the world. We are excited to build upon Verifone’s strong platform to continue to drive growth and bring additional capabilities to Verifone’s customers,” said Peter Christodoulo, partner at Francisco Partners. 

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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