25116017_m Copyright : Huguette Roe (Follow)

The Caisse de dépôt et placement du Québec and the Fonds de solidarité FTQ are providing equity to help Groupe Solmax Inc. acquire Houston-based GSE Environmental Inc.

Groupe Solmax, a Canadian-based producer of polyethylene geomembranes for industrial and environmental applications, has purchased GSE Environmental, a geosynthetics manufacturer, from private equity firm Littlejohn & Co. and certain funds held by investment manager Strategic Value Partners.

Both companies supply industrial organizations with containment systems for domestic, hazardous or industrial waste burial sites, retention ponds, fracking and heap leaching pads.

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“La Caisse is pleased to take an equity stake in Solmax as it acquires one of the largest companies in its industry and creates the undisputed global leader in geomembrane manufacturing,” said Christian Dubé, executive vice-president for Quebec at the Caisse, in a press release. “In addition to supporting a company from Quebec as it grows internationally, la Caisse is investing in a company that is making a difference for the environment.”

Solmax sells products in more than 60 countries for use in the mining, energy, waste management, water and civil engineering sectors. The products aid in protecting soil from contamination in scenarios such as landfills in urban areas and heap leach pads for mines operating in fragile ecosystems.

“This acquisition and the combination of Solmax and GSE creates a true global industry leader,” said Jean-Louis Vangeluwe, president of Solmax. “In a highly fragmented market of polyethylene geomembrane manufacturing, we will have the opportunity to lead and help reshape the industry, based on competitive drivers such as operational excellence and efficiency, superior quality products and deep R&D capabilities.

“Merging GSE with Solmax will also give us a broader manufacturing footprint and an expanded worldwide commercial network, which will in turn enable us to work more closely and cohesively with customers, including local service companies and specialized installers who require customized attention.”

Read: Caisse investing $507 million in British insurance company

Copyright © 2021 Transcontinental Media G.P. Originally published on benefitscanada.com

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