Ocean Group Inc., a portfolio company of Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité des travailleurs du Québec (F.T.Q.), has acquired Techsol Marine from its Dutch owner, Rotterdam, Netherlands based RH Marine Group. The transaction closed on January 1, 2019, and financial terms were not disclosed.
Québec City based Techsol Marine is a leading electrical and electronic marine engineering firm.
The acquisition makes Techsol Marine once again wholly Quebec owned. Techsol Marine was acquired by Imtech N.V in 2011. Imtech went bankrupt in August 2015. Parcom Capital and Pon Holdings acquired Imtech’s Marine unit including Techsol Marine in October 2015 and relaunched it as RH Marine Group.
In August 2018, CDPQ and Fonds de solidarité invested $112 million, $56 million each, in Ocean Group for undisclosed minority stakes in the company. The investment was made in partnership with founder Gordon Bain and President Jacques Tanguay.
photo credit: TechSol
News Release
OCEAN GROUP INVESTS IN QUÉBEC EXPERTISE BY ACQUIRING TECHSOL MARINE
Québec, January 8, 2019 – Ocean Group is proud to announce the acquisition of Techsol Marine, a company once again wholly Quebec-owned. Specialist in marine electrotechnology and leader in its field, Techsol Marine installs and ensures the commissioning of various automated systems used to control and monitor the machinery used on ships. Entirely designed and developed in Quebec, the systems are installed on all kinds of ships around the world.
This new acquisition will allow Ocean Group to pursue its growth plan, which is essentially based on expanding its operations in Canada and continuing its global expansion. It comes in to invest in a company recognized in the maritime field and which has an expertise complementary to its own.
This is great news for Ocean Group and for Techsol Marine also, which will continue to work in its field of activity as a company in its own right, while maintaining its name, expertise and qualified workforce.
“We are pleased to contribute to the development of this company with a real know-how, while bringing back the ownership of the company in Quebec. We are convinced of the great potential of Techsol Marine and want to invest in growing its market shares in Quebec, Canada and internationally”, said Jacques Tanguay, President and Chief Executive Officer of Ocean Group.
ABOUT TECHSOL MARINE
Located in the City of Québec, Techsol Marine is a company that stands out in the field of electrical and electronic marine engineering. Thanks to its innovative solutions (electric drives, machinery supervision and fire detection systems, main switchboards with energy management, propulsion controls, navigation consoles, etc.), Techsol has positioned itself advantageously on the national and international markets.
INFORMATION:
Philippe Filion, MAP
Director – Public Affairs
Ocean Group
418-694-1414, extension 259
418-928-7056
philippe.filion@groupocean.com