On July 13, 2017, Telecon announced the closing of a $70 million equity financing by Clearspring Capital Partners (Clearspring), in support of its continued growth. Following the transaction, Clearspring will become a 35% shareholder of the company. Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins will maintain their part ownership in Telecon as well as participate in the financing, along with Telecon’s senior leadership team.
Telecon is a leading telecommunication network services provider founded in 1967. The Montreal-based company employs 3000 people and offers industry-leading design, infrastructure, and connectivity solutions to telecommunication companies nationwide.
Clearspring, which will lead the financing, is a Canadian mid-market private equity firm that invests in and acquires medium-sized companies through buyouts, growth and acquisition financings, going private transactions, recapitalizations, etc., to create value and help them grow. Institutional investors Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins, that have been funding and supporting Telecon since 2011, are both delighted to welcome Clearspring as a partner in Telecon’s growth and prosperity.
Fasken Martineau advised institutional investors Caisse de dépôt et placement du Québec and Capital régional et coopératif Desjardins in this financing with a team led by Jean-Sébastien Dugas.