CDPQ invests $200M in Québec technology company Plusgrade

On November 28, 2018, Caisse de dépôt et placement du Québec (CDPQ) announced that it acquired an equity interest of $200 million in Plusgrade, a leading provider of revenue solutions to the global travel industry. The interests were acquired from TA Associates, the management team and other investors, all of whom will continue to be shareholders going forward. With this backing, Plusgrade will continue to execute its expansion plan to penetrate new international markets and expanding its suite of products. 

Caisse de dépôt et placement du Québec is a long term institutional investor that manages funds for public and parapublic pension and insurance plans. 

TA Associates Management, L.P., headquartered in Boston, Massachusetts, is a private equity and venture capital firm specializing in buyouts and minority recapitalizations. 

Osler, Hoskin & Harcourt LLP represented CDPQ on the transaction, with a team led by Niko Veilleux that included Hugo Pierre Gagnon, Michael Budabin McQuown, Calvin Leung (Corporate), Manon Thivierge and David Wilson (Tax). 

Davies Ward Phillips & Vineberg LLP acted as legal advisor for Plusgrade with a team including Brian Kujavsky, Vanessa Pendenza (Corporate) and Marie-Emmanuelle Vaillancourt (Tax).