Desjardins Group and the Caisse de dépôt et placement du Québec have made a $60-million investment in Telecon Group, becoming principal shareholders in the private telecom technology company.
Telecon, which is based in Trois-Rivieres, Que., provides engineering, design and construction services for wireless and wireline networks.
“Our investment in Telecon Group is part of our strategy to spur the growth of quality Quebec businesses,” said Luc Houle, senior vice-president, Investments at the Caisse de dépôt et placement du Québec. “Telecon is well-positioned in the Quebec telecommunications industry, which offers solid potential. This new investment, which will enable the company to execute growth initiatives, will generate returns for our clients, the depositors.”
In 2010, Desjardins Group and the Caisse announced a $600-million fund to support the expansion and growth of small and medium-sized Quebec-based businesses.