MONTREAL, QUE. — CDPQ has invested $150 million in construction company Pomerleau.
CDPQ initially invested $50 million in Pomerleau in 2018. Since that investment Pomerleau has increased its revenues from $1.8 billion to $4 billion, a news release states.
“CDPQ is proud to have been at the company’s side during this expansion and looks forward to continuing our commitment to support the execution of the company’s strategic development plan,” said Kim Thomassin, executive vice-president and head of Québec at CDPQ, in the release.
Pomerleau recently acquired Vancouver-based ITC Construction Group with the aid of the capital investment from CDPQ.
“With 200 residential projects worth more than 5 billion dollars under its belt in British Columbia and Alberta, and 18 major residential projects underway, ITC is the perfect partner to help Pomerleau achieve its ambitions,” reads the release.
As of June 30, CDPQ’s assets total more than $390 billion.
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