The Caisse de dépôt et placement du Québec, alongside private equity firm Novacap, is part of a partnership helping Eddyfi Technologies acquire NDT Global.
Headquartered in Dublin, NDT Global supplies inline inspection for ultrasonic pipelines and data analysis for onshore and offshore pipelines. Combined, Eddyfi and NDT Global will have more than 1,000 employees in global 20 offices.
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Since the Caisse initially invested in Eddyfi in 2017, it has helped it make four acquisitions.
“Quebec [small and medium-sized enterprises’] expansion and globalization is a key aspect of our strategy, and our support for Eddyfi over the years reflects that,” said Charles Émond, president and chief executive officer of the Caisse, in a press release. “Since our first investment, the company has experienced tremendous and sustained growth, becoming one of the largest private companies in the Greater Quebec City area today.”
The Caisse is also teaming up with Piramal Asset Management Private Ltd. to form a US$300 million platform to invest in private credit financing opportunities in India. The Caisse contributed 75 per cent of the financing, with Piramal committing the other 25 per cent.
Read: Caisse investing in Indian financial, health-care group
The platform aims to provide private credit solutions to multiple sectors in India, from manufacturing to pharmaceuticals.
“Piramal Enterprises is a like-minded partner with a solid market position and deep knowledge of India’s industry and financial sector,” said Anita George, executive vice-president and head of strategic partnerships and growth markets, at the Caisse, in a press release. “This is another opportunity for CDPQ to work with the best partners in a market where we see many possibilities over the long term. Through our partnership, we are able to support growing businesses and invest in India’s thriving entrepreneurship.”
Piramal Asset Management Private Ltd. is a wholly-owned subsidiary of Piramal Enterprises Ltd., which the Caisse has partnered with on deals since 2017.