Pomerleau gets $50M investment from pension fund Caisse to carry out growth plan
By David KennedyConstruction Financing
MONTREAL—Pension fund manager La Caisse de dépôt et placement du Québec is buying into the Canadian construction industry with a $50 million investment in Montreal-based Pomerleau.
Caisse did not disclose what share of the contractor the investment will purchase, but said the funds will allow Pomerleau to carry out its strategic growth plan.
The Quebec-based company, which has nine offices across the country is one of Canada’s largest contractors with experience building everything from infrastructure to clean energy projects.
Pomerleau says the investment will ensure its workforce of about 4,000 is able to adopt the latest technologies such as robotics, Building Information Modeling (BIM), virtual reality and artificial intelligence.
“This marks an important step in deploying our strategic plan,” Pierre Pomerleau, the company’s president and CEO, said in a statement. “In addition to helping us stay at the forefront, la Caisse’s involvement will allow us to target new growth opportunities to enhance our position among the leaders in the Canadian construction industry, from coast to coast.”