Montréal, Canada (November 29, 2023)—International event and touring powerhouse Solotech has added a fourth investor as a shareholder. CDPQ has acquired a minority stake in the company, aiming to support Solotech’s acquisition and organic growth strategy to expand its presence in various markets.
The new addition of CDPQ represents the largest investment in the company since 2013; since that time, the company has been held by a group of Québec-based shareholders—Claridge, Investissement Québec and Desjardins Capital—which CDPQ now joins.
The acquisition strategy has been a focus for Solotech, which has made 10 acquisitions completed since 2018. Today, the company has 2,000 employees in 20 locations in North America, Europe and Asia, offering audio, video, lighting, rigging, staging and control and collaboration systems, as well as electronic sports and web-diffusion virtual technology. It is also involved in selling and integrating audiovisual systems.
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The result is a company delivering more than 12,000 projects annually. Solotech’s team has been involved in corporate events, nearly 280 festivals per year and musical tours, including by Taylor Swift, P!nk, Harry Styles, Adele and The Weeknd. A major share of its annual revenues is generated by large-scale audiovisual installations, including Resorts World Las Vegas, Outernet and Tottenham Hotspur Stadium in London, Disney World, Bell Centre, Caesars Palace, Hong Kong International Airport and more.
“CDPQ will support the company in its next growth stage. Aligned with CDPQ’s priorities, this means not only shifting activities into high gear, but also facilitating the company’s global expansion and promoting its audiovisual and technological know-how,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ.
“CDPQ’s commitment is a gauge of confidence in our business model, and their financial investment will allow us to seize new business opportunities as a global audiovisual and technology consolidator,” noted Martin Tremblay, President and Chief Executive Officer of Solotech.
