C.P.G. Gagné gets $60,000 from CLD
The Memphremagog MRC’s Centre local de developpement (CLD) recently awarded financial aid in the amount of $60,000 to Industries C.P.G. Gagné Ltée from its Fonds d’investissement commun as well as from the Jeunes Promoteurs program.
The company, situated in Magog, specializes in the distribution of agricultural, industrial and hydraulic parts. Their clients are in Quebec, Ontario and the Maritimes. Founded in 1985, the company now has ten employees. During the last few months, Philippe Marier
and two other shareholders decided to take over the business.
“This is an important takeover project for the future of the company and its employees,” mentioned Robert Rodrigue, the Director of Business Development at the CLD. “The CLD has contributed, with its financial help, to complete the financial building of the takeover project with the partners. For the promoters, this financial help from the CLD gave them a tremendous flexibility as well as a vision for the future development of the enterprise. More than just financing, we will continue to accompany those taking over and the business in their growth strategy. It is this dual role that the entrepreneurs need and that we offer at the CLD.”
“The accompaniment of the CLD in our project helped make it much easier. It is not always obvious for a young entrepreneur to find financing, but the CLD was there for us. The team showed impressive know-how and professionalism in all stages of the takeover,” mentioned Philippe Marier, the new owner of Industries C.P.G. Gagné Ltée.
This takeover project is an important investment in the Memphremagog region and will create two other short term jobs. The financial aid offered by the CLD came in the form of a non-refundable grant from the Jeunes Promoteurs program and a loan from the Fonds d’investissement commun. The $60,000 total allowed the new promoters to complete the buyout of shares of the company.
Robert Rodrigue, the Business Development Director of the Memphremagog MRC CLD,
is seen here with Philippe Marier, the new owner of Industries C.P.G. Gagné Ltée.