Gecko, CRCD purchase company shares from U.S. partners

by jason_cramp | September 8, 2016 10:48 am

[1]

Gecko Alliance Group Inc., with support from Capital régional et coopératif Desjardins (CRCD), has repurchased 50 per cent of its shares held by its U.S. partners.

Both company founders, Michel Authier and Benoît Laflamme, remain the company’s shareholder-officers, and CRCD is now a shareholder.

Authier, CEO and manager of Gecko, says he is happy to team up with a Quebec partner to help the company expand.

“Our destiny is now in our hands,” says Authier. “With Capital régional et coopératif Desjardins being a company shareholder, we’ll have the resources and expertise we need to help us with our projects and new market development.”

Luc Ménard, COO of Desjardins Business Capital régional et coopératif, manager of CRCD, says putting the North American flagship back into the hands of Quebec shareholders is promising for the company’s future.

“The game plan of both company founders is solid and their succession plan is already well established within the management team,” he adds. “Our role will be to support the company over the next few years and give it access to patient capital for potential growth projects.”

The company designs, manufacturers, and sells control systems, pumps, and accessories for hot tubs and employees nearly 360 people. Its research and product development staff is based in Gecko’s head office in Quebec City in the Carrefour du Commerce industrial zone. The company also has facilities in Nevada and Tijuana, Mexico, as well as distribution centres in Quebec, Nevada, China, and the Netherlands.

Source URL: https://www.poolspamarketing.com/trade/gecko-crcd-purchase-company-shares-from-u-s-partners/

---