Desjardins consolidates three Quebec fixture manufacturers

MONTREAL ― Desjardins Capital has acquired majority stakes in three flagship manufacturers in a bid to keep them under Quebec ownership. Équipement Boni in Saint-Bruno, and Montreal’s Etalex and FormaFil are consolidating under the auspices of SJM Group, a new entity specializing in commercial fixtures and heavy-duty storage systems. It will partner with Desjardins Canada in what the latter’s chief operating officer, Luc Ménard, touts as a groundbreaking arrangement.

“To allow the Group’s minority shareholders to gradually and more rapidly regain control of ownership,” he said in a release, “Desjardins Capital has isolated the ownership of the operating company and become the owner of two SJM Group buildings.”