MONTREAL, Feb. 1, 2018 /PRNewswire/ – Caisse de dépôt et placement du Québec (CDPQ), a leading institutional asset manager, and Ardian, an independent private investment company, have completed the acquisition of a significant stake in Alvest, the global leader in the development, production, distribution and support of airport Ground Support Equipment (GSE). Alvest’s customers, including passenger airlines, cargo airlines, ground handlers and airport authorities, will benefit from this investment through Alvest’s enhanced capacity to bring new and innovative solutions to the market. The investment will also contribute to Alvest’s efforts to continue building its global footprint.
As a leader within the growing and evolving GSE sector, Alvest is well positioned to lead the aviation industry’s technological and environmental shift toward reducing its emissions on the tarmac. Alvest’s Taxibot, a hybrid taxiing vehicle and the only certified green-taxiing solution in the world, is uniquely catering to the industry’s challenge to reduce CO2 emissions. By taxiing aircraft without using its jet engines, Taxibot significantly reduces fuel burn and emissions of flights while lowering airliners’ dependence on fossil fuels. Alvest is also bringing a complete range of electric equipment to market, including driverless vehicles, allowing airports to go greener.
Jean-Marie Fulconis, CEO of Alvest said: “Our team is very proud to partner with CDPQ and Ardian, which have committed to support Alvest’s projects and development strategy. This powerful long-term backing will allow us to continue to make substantial investments in new technologies and products, and to bring our support and green contribution to our customers, and the aviation industry, to the next level.”
Stéphane Etroy, Executive Vice-President and Head of Private Equity, CDPQ, said: “Alvest is the right fit for us. Its airport equipment technology and services contribute to the aviation industry’s shift toward a lower-carbon future and are strongly aligned with our climate change strategy. More broadly, Alvest is a leader in all its main business lines internationally and has a resilient, diversified and well-balanced business model in a growing market. Alongside Alvest’s experienced management team and our partners, we look forward to participating in the company’s future growth in new and existing markets.”
Dominique Gaillard, Head of Ardian Direct Funds added: “This transaction marks the second time that we have invested in Alvest, having been shareholders from 2006 to 2013. With our Ardian Co-Investment team, we are delighted to again support the company and the strong management