Quebec fund to buy $250M stake in supply chain company
Caisse de dépôt et placement du Québec has agreed to buy a minority stake in supply chain compliance provider QIMA, people with knowledge of the matter said.
The Canadian pension fund will invest around $250 million in Hong Kong-based QIMA, according to the people, who asked not to be identified because the information is private.
QIMA, which is majority owned by its chief executive officer, Sebastien Breteau, helps companies monitor their supply chains by providing audit programs and on-theground factory inspections.
It also offers laboratory testing, supplier audits and quality assurance certifications for products like garments, fresh produce and processed foods.
The company, founded in 2005, now has operations in 88 countries and works with more than 15,000 companies. Last year, QIMA launched a digital software-as-aservice platform that lets customers oversee their procurement networks and view compliance data online.
QIMA, formerly known as AsiaInspection, has expanded through a series of acquisitions in recent years. It completed the purchase of Mexican standards body NYCE in January to expand its certification offering in Latin America. In June, it invested in Kavida.ai, a Londonbased startup that helps mitigate supply chain disruptions. QIMA bought World Quality Services in 2019 to boost its presence in the North American food industry.
CDPQ is purchasing the stake in QIMA from Asia-focused private equity firm Navis Capital Partners, which invested in the company in 2018, the people said. The transaction could be announced as soon as this week, the people said.
A representative for CDPQ declined to comment, while spokespeople for QIMA and Navis couldn’t immediately be reached for comment.