GF Piping Systems to acquire stake in CRCD-backed Urecon

GF Piping Systems, a division of Switzerland's Georg Fischer Ltd, agreed to buy a 49 percent stake in Urecon Ltd, a Coteau-du-Lac, Québec-based developer of pre-insulated piping systems for freeze protection, chilled water and district heating markets. No financial terms were disclosed. GF said the deal will expand its North American footprint and accelerate the introduction of its pre-insulated piping system package for cooling and air-conditioning. Founded in 1969, Urecon was acquired in 2013 by Capital régional et coopératif Desjardins (CRCD), a private equity fund managed by Desjardins Entreprises Capital régional et coopératif.

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