Aéro Montréal private equity fund dedicated to aerospace sector
Monica Ferguson
Economy Aerospace aerospace Canada fund private supply chain
Photo credit: Aéro Montréal / CNW Group
Canada’s first private equity fund dedicated to the aerospace supply chain was announced by Pierre Fitzgibbon, Quebec’s Minister of Economy and Innovation and Minister. The fund is estimated to be $100 million and has garnered commitments of $77 million for its initial closing.
“Thanks to the historic mobilization of our members and the support of all levels of government, we have found concrete solutions to leverage this crisis and build a stronger industry,” said Suzanne M. Benoît, president, Aéro Montréal. “The creation of a private equity fund is an excellent springboard that will propel the growth of our SMEs. In collaboration with the Québec government, we are once again strengthening the aerospace sector so that it can continue to create jobs and wealth throughout Québec and the world.”
Aéro Montréal initiated the Alliance for the Aerospace Recovery (AAR), it brought together leaders of each segment of the supply chain, various levels of government and financial community. More than 60 people were mobilized to recommend concrete measures that would meet the needs of the ecosystem, stimulate the economy, and create value for all Quebecers and Canadians.
