|For immediate release
Champlain Financial Corporation acquires a leading John Deere equipment dealership network
MONTREAL, QUEBEC, July 25th, 2011 – Groupe Agricole J.L.D. Inc. (“JLD”), operating one of Canada’s leading John Deere equipment dealership networks, is pleased to announce that it has been acquired by a private group of investors led by Champlain Financial Corporation, a Canadian private equity investment firm, who will also provide the Company with growth capital that will be used to fuel an aggressive growth plan across Eastern Canada.
The Company exclusively sells and services a comprehensive suite of John Deere agriculture, turf and light construction machinery through its retail network consisting of two flagship stores located near Montreal in Laval and Mirabel, Quebec; and two additional locations in Rimouski and Rivière-du-Loup in Eastern Quebec. The Company also owns an equity stake in a fifth location, Maltais & Ouellet, located in Alma, Quebec.
JLD was founded in 1972 by Mr. Jean-Yves Dion and Mr. Daniel Dion, who will remain as shareholders in the Company and will also remain actively involved in the ongoing development of JLD’s long-term strategy.
Concurrent with closing of the transaction, JLD has also retained one of Champlain’s operating partners, Mr. Frederic Latreille, a seasoned entrepreneur and former senior consultant with McKinsey & Company, who will assume the role of President of the Company. Mr. Latreille will lead the execution of the Company’s business plan, under which, JLD will serve as a consolidation platform, with the objective of creating one of the largest Canadian John Deere dealership networks.
About Champlain Financial Corporation
Champlain Financial Corporation, a Canadian private equity firm based in Montreal, along with its U.S. affiliated private equity fund manager, Champlain Capital Management LLC, has been building a diversified private equity portfolio with a series of investments throughout Canada and the United States. Champlain's core focus is to serve as a value-added partner in providing equity capital for small and middle-market companies.
Mr. Fréderic Latreille Mr. Jean-Stéphane Yansouni
President Principal & Chief Financial Officer
Groupe Agricole J.L.D. Inc. Champlain Financial Corporation
(450) 661-9150 (514) 282-3585