Caisse investing further in flight training company
BY Staff | November 18, 2020
The Caisse de dépôt et placement du Québec is investing $150 million in CAE Inc., a Quebec-based company specializing in training and operational support for the civil aviation, defence and security and health care markets.
The investment is part of a $300-million financing drive and will support the company’s expansion plans, according to a press release. This includes the acquisition of Flight Simulation Co., which will allow CAE to offer flight training services to its aviation customers in Europe.
In 2012, the Caisse invested $50 million in CAE, part of a $350-million round of private financing for the company.
“Our investment is rooted in a desire to support a resilient Quebec business like CAE in its recovery and growth efforts,” said Kim Thomassin, executive vice-president and head of investments in Quebec and stewardship investing at the Caisse, in the release.
“In a global context that is challenging for the aeronautics sector, CAE continues to demonstrate the capacity to innovate in various growth sectors of the economy and strengthen its competitive position with a view to fully resume activities.”