La Caisse and the Fonds de solidarité FTQ invest in Triotech

Mar 24, 2016 Martin Palicki Business, News, People 0

PHOTO: Triotech CEO Ernest Yale speaks during a press conference at IAAPA 2015

Montréal, CANADA – Caisse de dépôt et placement du Québec (CDPQ) and the Fonds de solidarité FTQ have announced a minority investment of $80 million in Triotech, the global leader in immersive and interactive attractions for the entertainment industry.

Triotech designs, manufactures and markets rides that integrate several technologies to deliver a multi-sensorial experience. To date, Triotech products are installed in more than 50 countries across all continents and over 53 million people have experienced them. In 2015, the company revolutionized its industry by developing the Maestro technology, which relies on hand gestures. The rides that integrate this technology are currently being deployed in certain Legoland amusement parks and will be deployed more extensively throughout the world in the years to come.

“This $40-million investment is aligned with our commitment to further the international growth of high-performing Québec businesses that put innovation at the heart of their business plan,” said Christian Dubé, Executive Vice-President, Québec of la Caisse. “With its leading-edge products and creative employees, Triotech is well positioned to benefit from the growth opportunities generated by the significant digital and interactive shift in amusement parks around the world.”

“Triotech is among the innovative companies that do Québec proud on the international stage, and it continues to think big,” said Normand Chouinard, Executive Vice President, Investments at the Fonds de solidarité FTQ. “By taking a stake of $40 million in Triotech, the Fonds will be right there to support the company in its development plan and in so doing, further the creation of quality jobs in a growing industry.”

Ernest Yale, Founder President and CEO of Triotech expressed that he is “very pleased that our vision for the future for Triotech is backed by partners committed to the development of our business and who are among the largest financial institutions in Québec.”

Established in 1999, Triotech has 150 employees distributed between its Montréal head office, its Joliette plant and its U.S. and China offices.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

La Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2015, it held $248.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT THE FONDS DE SOLIDARITÉ FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $11.2 billion as at November 30, 2015, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Québec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,550 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visit www.fondsftq.com.

About TRIOTECH

TRIOTECH is the creator of immersive and interactive attractions for the entertainment sector (theme parks, tourism attractions, family entertainment centres). The company has won three prestigious awards for its new products over the past two years. Its products are installed in more than 50 countries spanning all the continents. Over 16 million people will live a TRIOTECH experience in 2016!