CPE News (5.7.2024) – W Investments Group, with support of Desjardins Capital, has acquired Group BFL and its subsidiaries, Bousquet Technologies and Nagas Innovation from François Martin and family members.
W Investments Group made the investment through W Investments Group II family of funds.
Founded in 1946, Sainte-Julie, Québec based Group BFL is a Quebec pioneer in the design and manufacturing of high-efficiency recovery, heating, and innovative ventilation systems heating. Its subsidiaries Bousquet Technologies and Nagas Innovation are specialists in the institutional, commercial, and industrial sectors of innovative heat recovery products.
photo credit: Groupe BFL
News Release
W Investments Group, in partnership with Desjardins Capital, acquires Group BFL and its subsidiaries, Bousquet Technologies and Nagas Innovation
MONTREAL, May 7, 2024 /CNW/ – W Investments Group II L.P. is pleased to announce the acquisition of Groupe BFL, a Quebec leader in the design and manufacturing of high-efficiency recovery, heating, and innovative ventilation systems. This acquisition was made in partnership with Desjardins Capital and with Group BFL’s experienced management team which remains in place.
With more than 75 years of existence, Group BFL is a Quebec pioneer in the HVAC industry. Its subsidiary Bousquet Technologies has earned a reputation for excellence in the custom manufacturing of systems meeting the specific needs of various markets. It is recognized for its innovative solutions, including its Superblock technology, allowing for unrivalled energy recovery. With its mission of eliminating the ecological footprint of fresh air ventilation devices, the Nagas Innovation subsidiary aims to become one of the largest integrators of reverse flow energy recuperators in North America.
“I am proud of the company we have built over the past decades, and I feel that W Investments and Desjardins Capital are the right partners to support the management team in its objective of accelerating the growth of the company and the presence of our products throughout North America,” declared François Martin, who has led the family business for the last 40 years.
“Investing in entrepreneurs who are committed to reducing our global ecological footprint is consistent with the values of W and of our partner Desjardins Capital. The energy recovery systems developed by Nagas and Bousquet greatly reduce the natural gas consumption of thousands of institutional, industrial, and commercial buildings and this makes a difference for our planet,” said David Waddell, managing partner of W Investments Group.
“We are very thrilled about this promising new partnership with W Investments. W is an ideal strategic partner for us, embodying the same entrepreneurial values and having the required expertise to achieve our growth objectives throughout North America,” declared Michel-André Lamarche, President and CEO of Groupe BFL.
“We are delighted to partner with experienced and passionate entrepreneurs in a growing industry” underlines Maxime St-Laurent, managing partner of W Investments Group.
“This investment from Desjardins Capital, in partnership with W Investments Group, will allow Group BFL to deploy its full potential in achieving its growth objectives. This transaction is consistent with our mission and our values since it allows us to support a company that offers innovative alternatives in connection with sustainable development and ESG criteria, which make it a leader in its industry. Beyond this investment, we are even more proud to be able to offer Group BFL all of Desjardins’s expertise to benefit its ambitions,” underlined Nathalie Bernard, Chief Operating Officer of Desjardins Capital.
Advisors:
CAFA Financement Corporatif acted as advisor to Group BFL in the context of the transaction. For more information, visit https://cafafinance.com/en/
About Group BFL:
Founded in 1946, Group BFL is a Quebec pioneer in the design and manufacturing of high-efficiency recovery, heating, and innovative ventilation systems heating. Its subsidiaries Bousquet Technologies and Nagas Innovation are specialists in the institutional, commercial, and industrial sectors of innovative heat recovery products. For more information, visit https://bousquet.ca/en/ and https://nagasinnovation.com/en/
About W Investments Group:
At W Investments, what sets us apart is our unique approach to private equity. Our investor base is primarily comprised of accomplished entrepreneurs, bringing a wealth of practical experience and strategic knowledge to our partnerships. Our commitment is more than financial. Our founders were once operators themselves, which gives us invaluable insight into the challenges and opportunities entrepreneurs face. We believe it is important to allow existing management teams to maintain leadership of the company and be able to make critical decisions while benefiting from our support, advice, and expertise. Our approach is based on patient capital, which gives companies the time they need to reach their full potential. For more information, visit https://winvestments.ca/
About Desjardins Capital:
Backed by 50 years of expertise, Desjardins Capital’s mission is to contribute to the prosperity of individuals and communities by investing in the growth of Quebec businesses. With assets under management of $3 billion as of December 31, 2023, Desjardins Capital contributes to the longevity of nearly 760 companies, cooperatives, and funds in various sectors of activity from all regions of the province. In addition to contributing to socio-economic development, productivity, and the adoption of sustainable practices, this subsidiary of Desjardins Group offers entrepreneurs access to a broad business network, enabling them to be accompanied and supported in their projects.
SOURCE W Investments