Clearspring Capital Partners announced an investment in INNOTEX alongside founder Louis Carpentier and existing management.
Launched in 1999 and headquartered in Québec, INNOTEX is a leading manufacturer of firefighter protective suits, widely known as turnout gear, as well as multifunctional and lighter-weight rescue gear, protective hoods and gloves. This funding further advances Clearspring’s investment strategy in Québec and its expertise in the emergency services and protective apparel industries.
Louis Carpentier, President, will become Executive Chairman. And Claude Barbeau, General Manager, and René-Frédéric Roy, VP Finance, will remain with the organization. Carpentier will continue to be a major shareholder in the company.
Clearspring’s investment has also been made possible due to the support of BDC Growth Equity Partners, Investissement Québec, BMO Capital Partners and other institutional and individual Limited Partners.
KEY QUOTES:
“INNOTEX’s name comes from our mission: to continuously innovate through textile. Looking back, I am extremely proud of our team’s achievements in bringing innovative products to market over the last 25 years. I am excited to have found a partner like Clearspring, who shares our value in quality, innovation, and customer service. We will work together with Clearspring to continue our mission to deliver effective solutions to protect firefighters and first responders.”
– Louis Carpentier
“We are excited by the opportunity to support this great Québec company grow to become a North American leader. Investing in INNOTEX’s people, products and innovation, will drive the next stage of the company’s growth. Clearspring’s successful investments in Demers Ambulances and Logistik Unicorp, both market leaders in emergency services and protective apparel, made INNOTEX the perfect fit for our team.”
– John Veitch, Partner at Clearspring
“We are very proud to partner with Clearspring and INNOTEX’s management team in this next phase of the company’s growth. This partnership fits squarely into BDC’s broader goal of supporting SMEs in their ambition to become leaders in their field.”
– Guillaume Felx, Partner, Growth Equity Partners at BDC Capital
“We are proud to continue our partnership with Clearspring and support great Canadian companies such as INNOTEX.”
– BMO Capital Partners’ head Alex Baniczky
