Novacap acquires majority stake in Foliot Furniture

On November 5, 2019, Novacap announced that it has acquired a majority stake in the Quebec-based company, Foliot Furniture Inc., effective as of October 31, 2019, alongside the current management team and the Fonds de solidarité FTQ. Novacap intends to pursue Foliot Furniture’s growth and support the management team in its development opportunities. Foliot Furniture’s missions is to provide exceptional service to its customers while creating a harmonious environment for employees and the surrounding communities.

Novacap is a leading Canadian private equity firm. Its distinctive investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create a long-term value for its numerous portfolio companies. With an experience management team and substantial financial resources, Novacap is well-positioned to continue building world-class businesses.

Foliot Furniture is dedicated to providing quality furnishings for the hospitality and educational housing communities. Foliot Furniture has nearly 30 years of manufacturing experience and has delivered more than 1 million rooms in hotels, resorts, universities, and colleges throughout North America.

The Fonds de solidarité FTQ is a development capital investment funds that deploys the savings of Quebecers.

McMillan LLP was involved in all facets of the transaction and provided multi-disciplinary advice to Novacap with a team led by Charles Chevrette and Enda Wong (Corporate & M&A), and included Christian Abouchaker and Candice Hevin (Corporate & M&A), Patrice Beaudin, Keith Hanna and Nicolas Dolot (Financial Services), Shari Munk-Manel and Mireille Germain (Employment), Casey Halladay and Joshua Chad (Competition), Ralph Cuervo-Lorens and Talia Gordner (Environmental), Eve Lalancette (Real Estate), Michel Ranger (Tax), and Rish Handa (Intellectual Property).