Desjardins Group increases its stake in the capital of French partner Siparex Associés
Montreal, July 21 – Desjardins Group is taking another step forward in its partnership with Siparex Associés by increasing its stake in their capital. By doing so, Desjardins is following through with its desire to engage even further with Siparex's industrial and financial shareholder ecosystem, to accelerate its development in Europe and better support its members and clients on both continents.
This move by Desjardins Group, the largest financial cooperative in North America, caps Siparex Associés's investment round. It was an extension of the French company's operation to strengthen its capital base ($659 million) completed at the end of 2021.
Desjardins's role with Siparex Associés, in particular through its representative, Jean-Yves Bourgeois, Executive Vice-President, Business Services, who represents Desjardins Group on the Siparex board of directors, shows the French company's desire to pursue its international strategy to raise capital and support businesses with backing from a renowned partner.
"Siparex is led by a team known in the market for its professionalism and support of portfolio companies, a team with similar values to Desjardins and with whom we have longstanding ties," said Jean-Yves Bourgeois. "Strengthening our partnership highlights the dynamic nature and diversity of our economic relationship with France over the years. It also speaks to our desire to support our members and clients beyond the financial realm by making sure they can benefit from our partnerships and our extensive network on both sides of the Atlantic."
Very pleased with Desjardins's renewed commitment, Bertrand Rambaud, President of Siparex, stated, "This shows Desjardins Group's trust and interest in our asset class. We share a culture and teams with the Transatlantic Fund and are certain of the benefits it will bring both on a human and business development level. Desjardins Group's fortifying of our group's capital unlocks new potential for large-scale opportunities on both sides of the Atlantic."
Desjardins has been a partner of Siparex since the creation of the Transatlantic Fund, a cross-border investment vehicle designed to support French and Quebec SMEs who want to grow in both territories, and it also invested in the latest venture capital fund, XAnge 4.
The Transatlantic Fund had a particularly active year in 2021, with investments in 6 new companies, including 3 Quebec flagships.
Siparex Group is a French independent private equity specialist with capital under management of 3 billion euros. With strong organic growth and significant acquisitions, Siparex is a group that supports business development and transformation. From startups to medium-sized companies, Siparex finances and supports major entrepreneurial adventures through its various business segments: innovation under the XAnge brand, energy transition under the Tilt brand, Entrepreneurs, Distressed Capital, Mezzanine, Midcap and ETI (intermediate-sized companies).
The Group has the support of strong territorial roots provided by its 6 offices in France (Paris, Lyon, Nantes, Lille, Strasbourg and Toulouse), 3 locations elsewhere in Europe (Milan, Munich and Brussels) and partnerships in Africa and in North America.
About Siparex Associés and Sigefi Private Equity
Siparex Associés is the holding company that brings together the strategic investors and shareholders of the Siparex Group. It is also sponsors of the group's funds.
Sigefi Private Equity is the Group's lead management company, 60% owned by its partners and 40% by Siparex Associés.
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