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M&A Deal Summary

CDPQ Acquires Innergex Renewable Energy

On February 25, 2025, asset manager CDPQ acquired renewable energy company Innergex Renewable Energy for 10.0B USD

Acquisition Highlights
  • This is CDPQ’s 5th transaction in the Renewable Energy sector.
  • This is CDPQ’s largest (disclosed) transaction.
  • This is CDPQ’s 49th transaction in Canada.
  • This is CDPQ’s 46th transaction in Quebec.

M&A Deal Summary
Date 2025-02-25
Target Innergex Renewable Energy
Sector Renewable Energy
Buyer(s) CDPQ
Deal Type Going Private
Deal Value 10.0B USD
Advisor(s) BMO Capital Markets
CIBC Capital Markets (Financial)
McCarthy Tétrault (Legal)

Target

Innergex Renewable Energy

Longueuil, Quebec, Canada
Innergex Renewable Energy develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario and British Columbia, Canada, France and Idaho, U.S. Innergex Renewable Energy was founded in 1990 and is based in Longueuil, Quebec.

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Buyer(S) 1

Buyer

CDPQ

Investor Investor Investor Investor

Category Asset Manager
Founded 1965
PE ASSETS 80.0B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

CDPQ is a global asset management firm focused on a variety of investing strategies including fixed income, real estate, infrastructure, private equity, venture capital, and public equities. Within private equity, CDPQ looks to acquire significant minority stakes in businesses operating in a variety of sectors and seeks to commit $250 million to $1 billion per transaction. CDPQ was established in 1965 and is headquartered in Montreal, Quebec.

DEAL STATS #
Overall 105 of 105
Sector (Renewable Energy) 5 of 5
Type (Going Private) 6 of 6
State (Quebec) 46 of 46
Country (Canada) 49 of 49
Year (2025) 1 of 1
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-01 Techem

Eschborn, Germany

Techem specializes in smart and sustainable solutions for the real estate industry, focusing on energy efficiency and decarbonization. Techem provides digital services that help reduce energy consumption, improve water management, and increase resource conservation across properties. Techem's comprehensive offerings include remote monitoring systems for heating and water, wireless smoke detectors, and solutions for enhancing energy efficiency in buildings. Techem was founded in 1952 and is based in Eschborn, Germany.

Sell €6.7B
Mergr

Product

Company

Legal