BDC Capital's growth equity group invests in TeraXion's succession
TeraXion, a Québec City-based designer and maker of photonic components, has finalized a succession plan and restructured its share capital. The deal was backed by an undisclosed minority investment from the growth equity group of BDC Capital. BDC's Growth and Transition Capital division also partnered with CIBC to help the company with its bank refinancing. TeraXion said CEO Alain-Jacques Simard will assume the role of executive chairman, while CFO Richard Kirouac will retire but continue to hold a board seat. Simard and Kirouac are both co-founders. Ghislain Lafrance will be promoted to CEO. Established in 2000, TeraXion serves businesses in the light and heavy manufacturing, telecommunications, medical equipment, aerospace and defence industries.
