Montreal, Canada (October 29, 2013)—North American sound company Solotech has been making changes as it gears up for global expansion. Francois Menard, president and shareholder, announced that co-president, shareholder and “one of the main architects of Solotech from its beginnings in 1977,” Denis Lefancois, has left the company along with an institutional investor. In their stead, however, are three new strategic financial partners for the company: Claridge, Capital regional et cooperatif Desjardins and Investissement Quebec.
Solotech’s accounts include Celine Dion, Cirque du Soleil, Andre Rieu, Bruce Springsteen, Britney Spears, Michael Buble, Leonard Cohen, the upcoming Justin Timberlake tour and the Sotchi Winter Olympics.
Menard noted, “the addition of these three major investors coincides with the company’s plans to expand, through organic growth and acquisitions, and its global ambitions.”
Marie-Claude Boisvert, chief operating officer for Capital regional et cooperatif Desjardins (CRCD), is highly optimistic about this new partnership. “The enviable position and reputation Solotech has established in its industry are in large measure why we are participating in this transaction. With this partnership, CRCD is pursuing its main mission of offering flagships of the Quebec economy leverage to accelerate their growth and create quality jobs.”
“Claridge is very proud to partner with Capital regional et cooperatif Desjardins and Investissement Quebec to allow Solotech to pursue its development as a leader in the entertainment industry,” says Pierre Boivin, president and CEO of Claridge. “We believe that the company has everything it needs to bolster its presence in Quebec and Canada and become a global leader in its field. This is a strategic investment for Claridge, and we will do everything possible to help the management team achieve its ambitions.”