Vancouver, BC – November 13, 2024 – CAI Capital Partners (“CAI”) is pleased to announce that its portfolio company, LineStar Utility Supply Inc. (“LineStar” or the “Company”), has acquired Distributions Limotrique Inc. (“Limotrique”).
Founded in 1995 and based in Sherbrooke, Quebec, Limotrique is a leading distributor of powerline technician tools, high- and medium-voltage electrical products, and safety equipment for electric utilities and powerline contractors in Quebec. Additionally, the company has a team of specialized technicians that provide testing and repair services for high voltage live line equipment.
The partnership strengthens LineStar’s presence in Quebec and allows Limotrique to offer an expanded range of products and services to its customers. With 30 years of established relationships and a strong reputation in its market, Limotrique will continue to serve its customers under the Limotrique brand. Alain Beaudette will lead Limotrique’s operations, with former President, Charles Tarte, remaining involved as a consultant.
“We couldn’t be more excited to welcome Limotrique to the LineStar family. Charles and the team have built an incredible business, and this partnership represents a big milestone for LineStar as we continue to grow across the country”, said Brian L’Heureux, CEO of LineStar. “Partnering with Limotrique will immediately strengthen our presence in Quebec and unlock several new growth opportunities”.
Charles Tarte, former President of Limotrique, added, “I am thrilled to announce that our company is embarking on an exciting new chapter by partnering with LineStar Utility Supply. This strategic decision will propel us towards unparalleled growth and innovation, as we leverage LineStar’s extensive resources and nationwide network. I am confident that this transition will create immense opportunities for our team, clients, and partners. Thank you for your continued support and trust as we take this significant step forward together”.
LineStar’s investment in Limotrique marks its second acquisition and aligns with the Company’s long-term strategy of expanding its utility equipment and service offerings, geographies, and adjacent end markets. LineStar is actively seeking acquisition opportunities in Canada and the United States.
Debt financing for the transaction was provided by Scotiabank. CAI and LineStar were advised on the transaction by Blake, Cassels & Graydon LLP.
About Distributions Limotrique Inc.
Limotrique is a leading distributor of tools and equipment for powerline technicians and electric utilities in Quebec. They also offer specialized testing and repair services for high voltage live line equipment. The company is headquartered in Sherbrooke, Quebec. For additional information, please visit www.limotrique.com.
About LineStar Utility Supply Inc.
Founded in 2005, LineStar is a leading distributor of powerline technician tools and safety equipment across Canada with distribution centers in British Columbia, Alberta, Manitoba, Ontario, Quebec, and New Brunswick. LineStar primarily serves electric utilities and powerline contractors and has long-standing relationships and exclusive partnerships with key tool and equipment OEMs. For additional information, please visit www.linestar.ca.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian and US lower middle market. Over three decades, CAI has invested approximately C$1.6 billion of equity capital into companies across North America. For additional information, please visit www.caifunds.com.
For further information please contact:
Ashton Herriott
Partner, CAI Capital Partners
604-637-1288
Date: November 13, 2024
