Novolecs acquires Stace Group’s plant and IP to boost electrical solutions sector
In a strategic expansion of its portfolio, Novolecs Innovative Electrical Solutions (“Novolecs”) has successfully acquired the bus duct and auxiliary electrical equipment facility in Saint-Augustin-de-Desmaures, along with the entire intellectual property portfolio of the Stace group. This move is aimed at leveraging the plant’s specialized capabilities in designing and manufacturing low and medium voltage auxiliary equipment, a critical component for both local and international markets as they shift towards renewable electricity production and grid improvement to support economic decarbonization.
At the heart of this acquisition are Novolecs’ principal shareholders, Pascal Dupuis and Plant-E Corp., who envision bringing the Saint-Augustin-de-Desmaures plant to its full operational potential. This vision is in direct response to the burgeoning demand within the global market for advanced electrical solutions that can support the transition to renewable energy sources and enhance grid reliability.
René Perreault and Pascal Dupuis, chairs of the board for the main shareholders, emphasized the transaction’s significance, stating, “We are very proud of this transaction, as it will preserve an expertise recognized here in Québec and internationally. As international markets are moving towards renewable electricity production and improvements to the transmission grid to decarbonize the economy, the auxiliary equipment fabricated at the Saint-Augustin-de-Desmaures plant is essential to their success. Together with our suppliers, we rely on a competitive and transparent approach, and in so doing we act with foresight and responsibility.”
Sébastien Arcand, CEO of Novolecs, also shared his enthusiasm for the acquisition, aligning it with the company’s core values of integrity, quality, and excellence. Arcand’s vision for Novolecs revolves around innovation, resilience, productivity, quality, and sustainability, supported by a team of experts with complementary skills from engineering to fabrication, aiming to elevate the plant’s capabilities to new heights.
Pascal Dupuis brings to the table a wealth of experience as an engineer and entrepreneur actively involved in industrial mechanics, cogeneration, and related sectors. Dupuis has been at the helm of JR Mécanique and MJR Industrial Solutions since 1987 and serves as the Vice-President of Agilis.
Plant-E Corp, with its significant investments in the energy value chain, including a substantial wholesale electricity operation amounting to 6 TWh per year, brings strategic and financial strength to the partnership. Their involvement in strategic tangible assets, such as the acquisition of the Saint-Augustin-de-Desmaures plant, highlights their commitment to supporting essential infrastructure for a sustainable energy future.
This acquisition is a clear indication of Novolecs’ commitment to strengthening its position in the electrical solutions sector, particularly in areas critical to the transition to renewable energy and grid modernization. By harnessing the expertise and innovative capabilities of the Saint-Augustin-de-Desmaures plant, Novolecs is set to play a pivotal role in addressing the challenges of decarbonizing the economy through enhanced electrical infrastructure.
The integration of the Stace group’s intellectual property into Novolecs’ operations will likely spur further innovation and efficiency improvements, benefiting customers globally. This strategic move not only underscores the importance of preserving specialized manufacturing expertise but also highlights the potential for significant growth and development in the renewable energy and electrical solutions sector.