Canadian Investment Review

Caisse investing further in flight training company

Written by Staff on Wednesday, November 18th, 2020 at 8:59 am

Airplane cockpit © shutterbas /123RF Stock PhotosThe 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.”

Copyright 2021. Canadian Investment Review. All Rights Reserved.