Groupe Solmax becomes global geosynthetics industry leader by acquiring top player GSE Environmental

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Groupe Solmax, a Canadian-based company and an industry leader in the production of high-quality polyethylene geomembranes for industrial and environmental applications has acquired GSE Environmental based in Houston, Texas from Littlejohn & Co., LLC and certain funds and accounts managed by Strategic Value Partners, LLC, both Greenwich, Connecticut-based private investment firms. Both Solmax and GSE operate globally in the geosynthetic products sector, supplying large industrial players with high-quality containment systems for domestic, hazardous or industrial waste burial sites, retention ponds, fracking and heap leaching pads. The Caisse de dépôt et placement du Québec (CDPQ) and the Fonds de solidarité FTQ are Solmax’s financial partners for this transaction. Both will have equity positions in the company. false false false Solmax drew on the guidance and services of the following firms to complete this strategic acquisition: McCarthy Tétrault LLP acted as Canadian legal advisors and Jones Day as international legal advisors; PricewaterhouseCoopers Corporate Finance inc. acted as financial advisor. National Bank of Canada and The Toronto-Dominion Bank acted as joint underwriters for the senior credit facilities.The financial terms and conditions of the transaction were not disclosed. false false false ABOUT GROUPE SOLMAX Groupe Solmax is a worldwide leader in the manufacturing of PE geomembranes and offers high-standard containment solutions. Its products are sold in over 60 countries. They are used by the major industrial companies in the mining, energy, waste management, water, and civil engineering sectors. Solmax’s products are used to protect soils from contamination in applications as critical as the landfills of the world’s most populated cities to the tailings or heap leach pads of mining operating in environmentally fragile ecosystems. ABOUT GSE ENVIRONMENTAL GSE Environmental is a global manufacturer and marketer of geosynthetic barrier systems, stabilization products, and drainage systems used for the containment and management of solids, liquids and gases for organizations engaged in civil engineering projects, waste management, mining, water, wastewater and aquaculture. GSE's principal products are polyethylene-based geomembranes, geonets, geocomposites, geosynthetic clay liners, concrete protection liners and vertical barriers. Headquartered in Houston, Texas, USA, GSE maintains sales offices throughout the world and manufacturing facilities in the US, Germany, Thailand, China and Egypt. ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2017, it held $286.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages. ABOUT FONDS DE SOLIDARITÉ FTQ The Fonds de solidarité FTQ is a development capital investment fund that channels the savings of Quebecers into investments. As at May 31, 2017, the organization had C$13.1 billion in net assets, and through its current portfolio of investments has helped create and protect 186,440 jobs. The Fonds is a partner in more than 2,700 companies and has 645,664 shareholder-savers.