February 8, 2018
Major Investment by SeaFort Capital - A New Financial Partner Allows Mecfor to Accelerate Development Plans
CHICOUTIMI, QC, Feb. 8, 2018 - Mecfor is poised for growth. Benefiting from a major investment by its new Canadian financial partner—SeaFort Capital—and from a strong and unchanged management team, the Quebec-based company has become independent and now wants to double its revenues. Mecfor is committed to a development plan focused on mergers and acquisitions in the primary and secondary aluminum sector, innovation, and diversification towards rail maintenance equipment and the nuclear sector.
"We are pleased to announce this historic transaction, which gives Mecfor a new financial partner, providing access to capital and resources that will enable us to accelerate our ambitious development plans. We aim to reach new heights by focusing on a bold strategy based on mergers, acquisitions, sustained investment in innovation, and operational diversification."
– Éloïse Harvey, B. Eng. & Mgmt, President of Mecfor
“SeaFort Capital is pleased to invest in Mecfor at a key stage in its development. We have great confidence in Éloïse Harvey and the entire Mecfor management team, and we are convinced that this partnership will foster growth, helping to make Mecfor a leader in heavy industry innovation and increasing its market share in the global metals, nuclear and rail industry."
– Rob Normandeau, President of SeaFort Capital
"I endorse Éloïse's wish and the strategic direction and expansion she has planned for Mecfor. The most important thing remains a company's sustainability and I trust in the dynamism of Éloïse and my former partners to lead Mecfor towards a prosperous future."
– Jeannot Harvey, Eng. MBA, President of Groupe Ceger
An ambitious development plan
Through this transaction, which consolidates over 85 jobs at its factory and headquarters in Chicoutimi, Mecfor becomes independent from Groupe Ceger. Mecfor now has the financial resources and the necessary capacity to continue its growth.
The Quebec company is considering several merger and acquisition projects, both in Quebec and at the international level, and is actively engaged in discussions with key players in the primary and secondary aluminum sectors. Mecfor's growth will be accompanied by significant investments in innovation, especially in artificial intelligence, and by the development of its rail maintenance equipment operations.
About Mecfor
Based in Saguenay, Quebec, Mecfor specializes in equipment design and manufacture for the global aluminum, mining and metals, and rail industries. Its client-based approach and production capacity allows Mecfor to adapt its equipment to the operational needs of customers. Mecfor started off in 1997 as a regional solution provider and has grown to become a global supplier. With a reputation for high standards, Mecfor proudly delivers sturdy and reliable equipment that meets the needs of its clients around the globe. For more information, visit www.mecfor.com.
About SeaFort Capital
SeaFort Capital is a Canadian investment firm based in Halifax. Founded in 2012 by a small group of private investors, SeaFort partners with strong management teams to strengthen and grow profitable businesses.
For further information: Samuel Tremblay, TACT Intelligence-conseil, Cell.: 418-929-6664, stremblay@tactconseil.ca
The full press release is available here.