Caisse invests $50M in Canadian construction company

The Caisse de dépôt et placement du Québec is investing $50 million in Canadian construction company Pomerleau Inc.

The investment, which makes the Caisse a minority shareholder in the company, aims to allow Pomerleau to follow through with its expansion strategy targeting new opportunities for growth, as well as to innovate, equip itself with better tools and use new technologies that draw on virtual reality, robotics and artificial intelligence, according to a press release.

Read: Caisse takes stake in French industrial company

Christian Dubé, executive vice-president for Quebec at the Caisse, said the investment aligns with the Caisse’s strategy of supporting the expansion of Quebec-based companies into new markets. “In addition to supporting the company’s efforts in innovation, Pomerleau will benefit from our expertise in strategic growth as it embarks on this expansion,” he said in the release.

Pomerleau, which has more than 150 worksites across the country, also owns woodwork company Beaubois. In addition, it co-owns Borea Construction, which specializes in renewable energy construction.

“We are delighted to have the Caisse as a shareholder. This marks an important step in deploying our strategic plan,” said Pierre Pomerleau, the company’s president and chief executive officer.

“In addition to helping us stay at the forefront, the Caisse’s involvement will allow us to target new growth opportunities to enhance our position among the leaders in the Canadian construction industry, from coast to coast.”

Read: Caisse part of financing deals for La Maison Simons, smart thermostat maker ecobee