Groupe Confort and Caisse de dépôt et de placement du Québec complete C$45.5 million acquisition of stake in HydroSolution
Date Closed
November 27, 2012
Lead Office
Montréal
Value
45.50 Million CAD
On November 28, 2012, Gaz Métro Limited Partnership announced that Gaz Métro, through its subsidiary, Gaz Métro Plus Limited Partnership, has sold its entire stake in HydroSolution, which rents a large number of electric water heaters. The sale, to a subsidiary of Groupe Confort for the sum of about C$45.5 million, will yield a profit of approximately C$14.6 million.
Groupe Confort, headquartered in Montréal, Québec, manufactures and markets heating and air conditioning products for residential applications.
HydroSolution, headquartered in Montréal, Québec, rents and sells residential water heaters and other home comfort appliances for single-family homes, multiplexes and apartments.
Gaz Métro, headquartered in Montréal, Québec, is a leading energy provider. It is the largest natural gas distribution company in Quebec, where its 10,000-km underground network of pipelines serves 300 municipalities and more than 185,000 customers.
McCarthy Tétrault LLP represented Groupe Confort, as purchaser, with a team led by Patrick Boucher.
