La Caisse de dépôt et placement du Québec and BMO Capital Partners have invested in Corporation de développement Nautilus Plus, which owns the largest corporate network of fitness centres in Québec.
The investment, made equally by la Caisse and BMO Capital Partners, will enable them to acquire a block of shares of the company and Nautilus Plus to continue expanding its network.
"This financing enables us to support a well-established Québec company that has become a leader in its industry," says Normand Provost, executive vice-president, private equity, of la Caisse de dépôt et placement du Québec. "With its expansion of recent years, Nautilus Plus has increased its market share and offers our depositors attractive long-term returns."
Once again, la Caisse is partnering with Novacap, a private equity firm that is very involved with Québec companies.
"BMO Bank of Montreal is very proud to partner with Novacap and la Caisse to support Nautilus Plus, a dominant player in Québec's fitness centre sector," says Richard Côté, vice-president, corporate finance division, Québec. "We believe the financial products and solutions offered to Nautilus Plus with this financing will help it pursue and even go beyond its long-term growth plan."
Nautilus Plus, founded 35 years ago, has 67,000 members and employs more than 1,200 people, including 500 personal trainers and nutritionists. It operates a network of 39 fitness centres mainly in the Montréal and Québec City areas as well as in the Outaouais region.
