(Above, Demers Ambulance for Palm Beach (FL) Fire Rescue)
Montreal, November 22, 2016 – Clearspring Capital Partners, a fund manager with a presence at Espace CDPQ, today announced a major investment in Demers Ambulances, a leader in the design, manufacturing, and distribution of ambulances throughout North America. Caisse de dépôt et placement du Québec and members of Demers Ambulances’ management team are also taking part in this investment. This transaction will enable Demers Ambulances to consolidate its market share in Canada and continue to grow internationally. Until now, the company was majority owned by an entity controlled by Ironbridge Equity Partners, an Ontario based private equity fund.
“Clearspring is excited to partner with the entire Demers Team, and we look forward to continuing to invest in its people, products and brand in order to help the company grow and find new markets domestically and abroad” said Lawrence Stevenson, Managing partner at Clearspring. “Demers Ambulances’ management team shares our values and we are confident that our contribution will benefit all of the company’s employees, customers and suppliers.”
“Demers Ambulances is a company that clearly positions itself ahead of its industry in terms of technology integration. Our investment will enable the company to implement its growth plan and continue to innovate,” said Christian Dubé, Executive Vice-President, Québec at la Caisse. “Demers is well positioned to compete with the leading global ambulance manufacturers.”
“We are fortunate to have strong partners like Clearspring and la Caisse. They have demonstrated a deep understanding of our industry and have recognized our growth potential and the quality of our team. They have both the capital and expertise needed for us to continue to grow and serve our clients.” concluded Alain Brunelle, President and CEO of Demers Ambulances.
Founded in 1960, Demers Ambulances is the second player throughout North America. It has delivered more than 18,000 ambulances to more than 20 countries. With state-of-the-art ambulances, the company offers both a high level of safety to patients and paramedics, as well as efficient and reliable vehicles to its customers.
About Demers Ambulances
Founded in 1960, Demers Ambulances is the second largest ambulance manufacturer in North America. Recognized as a leader in innovative products that meet and exceed the expectations of medical emergency specialists around the world, Demers Ambulances is accredited by Transport Canada and is recognized as a “Qualified Vehicles Modification” (QVM) by Ford, holds the US National Truck Equipment Association (NTEA) Member Verification Program (MVP) certification, and holds the BNQ1013 certification from the Bureau de Normalization du Québec (BNQ). To learn more about Demers Ambulances, visit www.demers-ambulances.com.
About Clearspring Capital Partners
Clearspring Capital Partners is a development capital fund manager active in the Canadian market. The firm carries out various types of transactions, including equity investments, investments to support business growth or market consolidation. The Clearspring team, who is based at the Espace CDPQ in Montréal, has acquired considerable experience in finance and operational management over the years and works closely with the management team of its portfolio companies to ensure the creation of added value.
About the Caisse de dépôt et placement du Québec
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 June 30, 2016, it held $254.9 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.