CAD Railway Industries Ltd. (CADRI) has completed a US$4 million fundraising with La Caisse de dépot et placement du Québec.
CADRI, founded 45 years ago in Lachine, Québec, is a manufacturing company servicing the rail, marine, mining, and power generation industries. It offers its main customers in these industries integrated repair, refurbishment and upgrading services for locomotives, freight cars, passenger cars and diesel engines. CADRI also manufactures custom replacement parts for rolling stock.
"By increasing its stake in CAD Railway Industries Ltd., La Caisse is reaffirming its commitment to support a Québec company that has carved out an enviable position in its industry," said Normand Provost, Executive Vice-President, Private Equity at La Caisse de dépot et placement du Québec. "The company has an impressive track record and has been growing steadily, notably because the nature of its operations, which involve long-term partnerships with customers."
"This new investment by La Caisse confirms its long-term commitment to our organization," said Fausto Levy, President and Chief Executive Officer of CAD Railway Industries Ltd. "We’re pleased to be able to count on Caisse's support at the key stages of our growth."
Oaklins' team in Montreal, Canada, acted as the exclusive advisor to CAD Railway Industries Ltd. in its fundraising.
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