PRESS RELEASES

Two Buyers Purchase Culligan Québec and Granby Backed by National Bank Private Investment

Montreal, June 23, 2022

The water treatment specialist Culligan Québec has changed hands after being bought by two of its leaders. Young entrepreneurs Simon Douville and Jérôme Guimont joined forces with National Bank Private InvestmentTM (“NBPI”) to acquire all of the operations of Culligan Québec and Culligan Granby (“Culligan Québec”).

Founded in 1954, Culligan Québec offers water treatment solutions for the residential, industrial and commercial sectors. Until its purchase by Mr. Douville and Mr. Guimont, the company had been operated for two generations by the Martineau family, who built it into the largest Quebec-based franchisee of Culligan Water of Illinois, with two major franchises in Quebec City and Granby. Culligan Water is a global leader in water treatment systems, recognized for its technological leadership and the quality and reliability of its products.

“The water treatment sector offers excellent growth potential, in terms of both organic growth of operations and consolidation of the many players across Quebec,” said Jérôme Guimont, co-owner of Culligan Québec.

“Interest in water quality is growing non-stop as this resource, which is so important for everyone’s health, becomes increasingly scarce. With NBPI, we have a strong strategic partner we can count on for support as we set up our sustained growth strategy,” added Simon Douville, co-owner of Culligan Québec.

Simon Douville and Jérôme Guimont both have degrees in Business Administration and nearly 10 years of experience working together in a manufacturing company that grew significantly during their tenure.

Main uses of Culligan products and services:

  • Residential: water softeners, filters and reverse osmosis systems to improve drinking water, care for sensitive skin and protect appliances.
  • Commercial and Industrial: water purification and stabilization for industrial processes, in particular for food processing plants, microbreweries, distilleries, vaccine production plants, hydrogen production, etc.

“In the coming years, demographics will lead to many businesses changing hands. We have the capital and expertise needed to support entrepreneurs who are looking to purchase these businesses and ensure their continuity. Simon and Jérôme have the talent, determination and vision to make Culligan Québec even more successful and we’re proud to support them,” said Luc Ménard, Executive Vice-President, Managing Director and Head of Private Investments at National Bank.

About National Bank of Canada
With $370 billion in assets as at April 30, 2022, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 28,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

About National Bank Private Investment
 National Bank Investments Inc., using the business name National Bank Private Investment, manages the National Bank SME Growth Fund, L.P. National Bank Private Investment (NBPI) is a venture capital firm that offers diversified investment opportunities to a clientele of seasoned investors from the National Bank network. The capital raised provides support to growing companies that wish to remain in control of their development and work with long-term partners.

TM National Bank Private Investment is a registered trademark of National Bank of Canada.

About Culligan
Culligan delivers better water for its clients in their homes, offices, businesses and industrial facilities around the world. Its product range of water softeners, water filtration systems, commercial and industrial water treatment solutions, drinking water systems, whole-house filtration systems and bottled water delivery have set the standard for the water treatment industry. Culligan was founded in 1936 as a provider of home water softening systems and has since grown into a global leader in water treatment needs, from the simplest filtration systems to complex industrial water solutions.

Information:

Stéphanie Rousseau
Senior Advisor, Public Affairs and Corporate Social Responsibility
National Bank of Canada
514-394-5684
stephanie.rousseau@nbc.ca