Choose your settings
Choose your language
Press releases

Desjardins Capital and Siparex become minority shareholders of PACK Solutions, in support of North American growth plan

October 27, 2021

Quebec City, October 27, 2021 – Desjardins Capital and Siparex have announced their acquisition of an equity stake in PACK Solutions, a group specializing in the delegated management of life insurance, savings and annuity products for major players in life and health insurance. The group, which currently manages $15 billion in assets for 22 major clients, including Industrial Alliance and 5 of France’s 10 biggest insurance companies, wants to expand its North American footprint.

"In 2018, we launched a partnership with Siparex with the goal of promoting the growth of French and Quebec businesses on both sides of the Atlantic," said Marie-Hélène Nolet, Chief Operating Officer of Desjardins Capital. In addition to taking a stake in PACK Solutions, we are helping them understand the business environment and client prospecting here in Canada. Meanwhile, Siparex is doing the same thing with respect to the market in France and the rest of Europe for Quebec businesses hoping to expand there."

"PACK Solutions has spent several years building close relationships with service providers and sales prospects in Quebec. In 2021, the creation of a subsidiary, an initial partnership and an investment by Desjardins Capital have marked the culmination of their efforts. This is also the year when they can start meeting their goal of serving Canadian clients in Canada after 20 years of undisputed expertise in France," said Richard Dalaud, Managing Partner/Chairman, Siparex Mezzanine.

About PACK Solutions
Over the last 20 years, PACK Solutions has been helping insurers manage their policy portfolios through either delegation or the use of its SaaS management platform. For several years, the company has been offering insurance companies overflow activity management services that supplement their management teams with qualified personnel. These various forms of expertise have made PACK Solutions the leading insurance solutions provider in the French group retirement savings market. For more information, visit

About Siparex
Siparex is a French independent private equity group with $3.7 billion in capital under management, which is divided between its activities specializing in equity investments in major corporations and SMEs, its subordinated debt activities and its venture capital business under the XAnge brand. Siparex's reach extends across France and into Italy (Milan), Germany (Munich), and the Benelux countries (Brussels). It also has a presence in Canada through a transatlantic co-investment fund in partnership with Desjardins Capital, the private equity subsidiary of Desjardins Group.

For journalists only: Richard Lacasse
Spokesperson, Desjardins Capital
514-281-7000 or 1-866-866-7000, ext. 5553436

Stéphane Maisonneuve
Partnerships Manager
PACK Assurance Solutions
+33 6 26 71 13 22

Priscille Clément
Head of Communication, Siparex
+33 1 53 93 04 27