NOVACAP Acquires Majority Stake in Joseph Ribkoff, a Flagship in the Fashion Sector

Montréal (ots/PRNewswire) -

NOVACAP, a Canadian leader in private equity, is proud to announce
that it has partnered with Joseph Ribkoff, one of Canada's leading
fashion designers, present in more than 64 international markets, by
acquiring a majority stake in the company. This transaction is
financed by the NOVACAP Industries IV Fund, in partnership with the
Fonds de solidarité FTQ, founder Joseph Ribkoff and company
executives.

This new investment represents NOVACAP's first foray into the
women's ready-to-wear sector. "Joseph Ribkoff is a Quebec company
that has experienced strong growth in recent years and is present in
several international markets, said NOVACAP senior partner and Joseph
Ribkoff's new chairman of the board, Domenic Mancini. We are
convinced of Joseph Ribkoff's potential at the national and
international levels. The company is ready to move up to a new level
and, as we have done many times in the past, our intention is to
provide the necessary financial support in order to accelerate the
company's growth and expansion into new markets."

The Joseph Ribkoff Company was founded in 1957 by the person which
bears its name, when he was only 21 years old. Over the years, it has
become one of the leading women's ready-to-wear brands in the
Canadian market. Now present in over 64 international markets, it has
adapted to new platforms, while remaining true to the multiple needs
of contemporary women.

"We are operating in a highly competitive market, and while our
growth has been strong over the past five years, we will benefit from
NOVACAP's financial backing, expertise and network to continue to
grow and consolidate our leadership position says company founder
Joseph Ribkoff. This transaction will not change our day-to-day
operations, and we will continue to develop, as we always have, the
best ready-to-wear collections and provide the best service to our
customers through the continued commitment of our employees ".

"Since its creation 60 years ago, Joseph Ribkoff has been able to
constantly adapt to the needs and tastes of consumers, as
demonstrated by Its presence today on international markets. Our
investment in this flagship of the Quebec fashion sector demonstrates
the Fonds de solidarité FTQ's desire to support the growth of
Canadian companies in international markets", commented Jean
Wilhelmy, Senior Vice President, Natural Resources, manufacturing and
services, Fonds de solidarité FTQ.

ABOUT JOSEPH RIBKOFF

Based in Montreal since 1957, Joseph Ribkoff creates ingenious
collections for busy women around the world. Now a fashion pioneer,
dictating trends and guiding women and styles, the company continues
to innovate to meet the multidimensional needs of today's women.
While celebrating its 60th anniversary this year, Joseph Ribkoff
continues to stand out as one of Canada's leading fashion designers,
and in more than 64 international markets. For more information,
please visit http://www.josephribkoff.com.

ABOUT NOVACAP

Founded in 1981, Novacap is a leading Canadian private equity firm
with $2.26 billion of assets under management. The Firm has raised
over $2.6 billion in capital since its inception. Novacap's unique
investment approach, based on deep operational expertise and an
active partnership with entrepreneurs, has helped accelerate growth
and create long-term value for its numerous investee companies. With
an experienced management team and substantial financial resources,
Novacap is well positioned to continue building world-class
companies. For more information, please visit http://www.novacap.ca.

ABOUT THE FONDS DE SOLIDARITÉ FTQ

The Fonds de solidarité FTQ is a development capital investment
fund that channels the savings of Quebecers into investments. As at
May 31, 2017, the organization had $13.1 billion in net assets, and
through its current portfolio of investments has helped create and
protect 186,440 jobs. The Fonds is a partner in more than 2,700
companies and has 645,664 shareholder-savers. For more information,
please visit http://www.fondsftq.com.

For NOVACAP/Joseph Ribkoff : Ms. Valérie Gonzalo, AGO
communications, +1-514-626-6976, valerie@agocom.ca; For Fonds de
solidarité FTQ : M. Patrick McQuilken, +1-514-850-4835,
pmcquilken@fondsftq.com

ots Originaltext: Novacap Management Inc
Im Internet recherchierbar: http://www.presseportal.de

Original-Content von: Novacap Management Inc, übermittelt durch news aktuell