Consortium completes acquisition of Métal 7
April 11, 2014
On April 11, 2014, a consortium of investors announced the completion of its acquisition of Métal 7 Inc. The consortium consists of the Business Development Bank of Canada (BDC), Fondaction CSN, Fonds de solidarité FTQ, the Fonds régional de solidarité FTQ Côte-Nord, NCP Investment Management Inc. and other minority shareholders.
Métal 7, based in Sept-Îles, Québec, specializes in the design and production of high-performance equipment for the iron ore pelletizing, aluminum, and pulp and paper industries.
BDC, headquartered in Montréal, is a federal Crown corporation that helps develop small and medium-sized enterprises through subordinate financing, venture capital and consulting services.
Fondaction, based in Montréal, invests in small and medium-sized enterprises in Québec.
The Fonds de solidarité FTQ, also headquartered in Montréal, is the largest labour-sponsored fund in Canada. It invests in local businesses to further economic development across Québec.
The Fonds régional de solidarité FTQ Côte-Nord, based in Sept-Îles, Québec, invests in businesses in the Côte-Nord region.
McCarthy Tétrault LLP represented Business Development Bank of Canada (BDC), Fondaction CSN, Fonds de solidarité FTQ and the Fonds régional de solidarité FTQ Côte-Nord. McCarthy Tétrault’s team was led by François Amyot (Mergers & Acquisitions), and included Myreille Gilbert (Mergers & Acquisitions), John Boscariol (international trade and investment) and Dominique Amyot-Bilodeau (environment).