Novacap, Fonds de solidarité FTQ and Fondaction completed the acquisition of a majority stake in Globe Electric.

Investment firms Novacap, Fonds de solidarité FTQ and Fondaction completed the acquisition of a majority stake in Globe Electric, a Montreal-based company specializing in the design, development, manufacturing, and marketing of innovative consumer lighting and electrical products. Financial terms were not disclosed. "Globe Electric is a great Canadian success story, and we are thrilled to be a part of its next chapter. Novacap has always been a champion of ambitious owner-entrepreneurs in Quebec, and Globe Electric has embodied that spirit for almost a century," Michel Côté, Novacap Senior Partner.