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Groupe RCM starts its succession plan with support from Desjardins and Fondaction

June 5, 2023

Saint-Benoît-Labre, June 5, 2023 – After founding and growing Groupe RCM over the past 23 years, Gilbert Trudeau is keen to make way for the next generation. The Beauce-based company, which specializes in the manufacture of modular buildings, announces the addition of Desjardins Capital, Fondaction and 2 managers to its share ownership. The founder remains active with the succession group to ensure continuity of operations and a smooth transition in this crucial new phase for this Beauce flagship company.

This partnership allows Groupe RCM to maintain its head office in Saint-Benoît-Labre in the Beauce region. Although the company had attracted the interest of several foreign investors, Trudeau decided to come to an agreement with Desjardins and Fondaction in order to favour an internal takeover and ensure the company's long-term survival in Quebec.

"For me, it was essential to find partners who are committed to maintaining the company's ownership in the region, and who have the capacity to pursue the company's growth ambitions and the will to maintain its values," says Groupe RCM founder, Gilbert Trudeau. "The arrival of Desjardins Capital and Fondaction in the company's shareholder base, along with the support and expertise of Desjardins Group, means we can enter this new phase with confidence."

Two members of the management team, Cédric Bolduc-Cliche, Financial Controller, and Tommy Bolduc, Technical Director, approached Desjardins Capital, who then partnered with Fondaction to allow the managers to enter Groupe RCM's shareholder base and maintain the company's Quebec ownership. Gilbert Trudeau also retains a stake in the company and will continue in his current role to support the new governance structure.

 "Groupe RCM is a prime example of business succession planning. In Quebec, 90,000 businesses will be looking for buyers over the next few years," states Jean-Yves Bourgeois, Executive Vice-President, Business Services at Desjardins Group. "Currently, 50% of SME owners in Quebec are ages 55 or older, and only 10% of them have a formal succession plan. Considering that a business transfer can take more than 5 years to conclude, business owners need to take action if they want to keep their head offices in Quebec and the regions. We can support them in this crucial and emotional stage by combining patient capital with Desjardins Business's other financing solutions."

"Groupe RCM's future is in good hands," affirms Cédric Bolduc-Cliche and Tommy Bolduc. "We're delighted to be able to count on the support of Desjardins Capital and Fondaction, 2 well-known organizations whose mission is to support the development of regional businesses and maintain their ownership in Quebec. The expertise of all our employees has enabled us to properly position ourselves in a growing business sector. Our customers can rest assured that we will continue to offer them superior service."

"It's essential that Quebec companies with positive and sustainable impacts like Groupe RCM are perpetuated," stresses Claire Bisson, Deputy Chief of Investment, Impact and Sustainable Investments at Fondaction. "This is exactly what the succession planning process set up by this partnership is all about. What's more, the shortage of construction labour and the growing need for new residential or institutional buildings in North America provide a favourable horizon for modular manufacturing for many years to come."

About Groupe RCM

Founded and run by construction specialists, Groupe RCM, originally known as RCM Modulaire, is a benchmark in its field. Its team of nearly 200 employees designs and manufactures every type of modular building with 3 objectives in mind: comfort, durability and superior quality. Groupe RCM does more than build housing modules. For each stage of a construction project, the company employs a team of qualified professionals: designers, engineers, carpenters, cabinetmakers, etc. This enables the company to take an integrated approach to each and every one of its projects based on the specific features, standards and precise needs of its customers.

About Fondaction

A trailblazer for over 25 years, Fondaction is the investment fund for those committed to the positive transformation of Quebec to make it a more productive, equitable, inclusive and greener economy. As a labour-sponsored fund, Fondaction represents tens of thousands of investors and hundreds of companies committed to the progress of Quebec. It manages a total of $3.25 billion in net assets invested in several hundred companies and in financial markets, prioritizing investments that generate positive economic, social and environmental benefits in addition to financial returns. The company participates in initiatives to maintain and create jobs, eliminate inequality and fight climate change. For more information, visit Fondaction's website or its LinkedIn page.

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