C.P.G. Gagné gets $60,000 from CLD

Stanstead Journal - - NEWS BRIEFS - Vic­to­ria Vanier

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.

photo cour­tesy

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.

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