MONTREAL, June 27, 2022 /CNW Telbec/ - Desjardins Capital and Saturnia Asset Management join the G2MC group of investors led by Champlain Financial Corporation (Champlain) and Fondaction. G2MC is a furniture retailer operating under the Maison Corbeil, Jardin de Ville, Galerie du Meuble, MUST, and Home Société banners. The combined strength of this investor group will allow G2MC to accelerate its growth plan in Western Canada.
G2MC was created in 2012 with Champlain's vision to consolidate the fragmented high-end furniture retail market in Quebec and Ontario. Champlain, along with some of its original investors, have chosen to reinvest in the company to enable it to pursue its growth strategy through organic initiatives and strategic acquisitions.
Philippe Arrata, formerly CEO of Mountain Equipment Coop, senior executive at Best Buy Canada, and consultant with McKinsey & Company, assumes the role of Executive Chairman of the company's Board of Directors. Éric and Stéphane Corbeil will continue to lead the company and Johanne Bourque will continue to hold the position of President of the Jardin de Ville division.
Financial terms of the transaction were not disclosed.
Champlain Financial Corporation is a Canadian private equity firm based in Montreal. It manages a private equity portfolio that currently includes various investments in Canada and the United States. Its priority is to add value to its portfolio companies which are typically SMEs wishing to grow at home and abroad. Champlain provides its partners with equity, financing, and operational management expertise.
G2MC was created through the consolidation of Galerie du Meuble (acquired in 2012), Maison Corbeil (2013) and Jardin de Ville (2015). G2MC is a leader in high-end interior and exterior furniture. The company serves its clientele through its 15 stores in Quebec and Ontario (Toronto and Ottawa) as well as its three transactional websites. G2MC's brand portfolio comprises of: La Galerie du Meuble, Maison Corbeil, Jardin de Ville, MUST, Home Société.
ABOUT DESJARDINS CAPITAL
With over 45 years of experience, Desjardins Capital's mission is to enhance, support and retain SMEs in Quebec. With assets under management of $3.0 billion as of December 31, 2021, Desjardins Capital partners with more than 670 companies, cooperatives and funds operating in various sectors of activity and from all regions of Quebec. In addition to helping maintain and create several thousand jobs, this Mouvement Desjardins subsidiary offers entrepreneurs growth opportunities by providing them with access to its large business network.
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SOURCE Champlain Financial Corp.
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