CDPQ invests $125 million in IT consultancy Levio
CDPQ, Quebec’s largest institutional investor, has invested $125 million in Levio, a Quebec City-headquartered IT consulting firm.
The money will support Levio’s acquisition strategy, which is focused on expanding the firm’s geographical footprint in North America, strengthening offerings, and developing new business practices.
Levio was founded in 2014 and has achieved a CAGR of 40% in the last five years. The firm has acquired 11 firms since its founding, including Soljit, Indellient, Voonyx, Landry & Associates, Logimethods, and ERP Connex. Levio also last year expanded into India.
The Quebec consultancy today has nearly 2,000 professionals in 12 offices across Canada, the US, France, Morocco, and India supporting institutional and corporate clients with the planning, management, and execution of digital transformation programs.
Levio was named one of Glassdoor’s Top 25 Best Places to Work in Canada for the past two years.
“With the arrival of CDPQ as a partner, we are looking to increase our rate of expansion to achieve our company acquisition strategy by associating with successful entrepreneurs, primarily in Canada and the U.S. This agreement provides us with significant financial leverage to continue building partnerships with our clients to execute large-scale digital transformations," said François Dion, president and founder of Levio.
CDPQ manages several public and parapublic pension plans and insurance programs in Quebec. Its net assets totaled $424 billion as June 30, 2023.
“CDPQ is proud to partner with Levio to support its expansion plan, which will grow its North American presence and consolidate its position in the market. Digital transformation is central to the sustainability and productivity of organizations, and this partnership is perfectly in line with our investment priorities and supports the company's growth," said Kim Thomassin, EVP and head of Quebec at CDPQ.
Desjardins Capital Markets served as exclusive financial advisor to Levio on the transaction.
