Caisse de dépôt et placement du Québec (CDPQ) is investing $36.5-million in Eddyfi, a Québec developer of inspection equipment and software for the industrial sector.

Through the deal, CDPQ will become a minority shareholder and Eddyfi will be able to focus on foreign acquisitions. Its technologies respond to global market trends such as the widespread aging of critical infrastructure.

“This transaction is well aligned with our commitment to help Québec companies expand internationally as part of their growth strategy,” said CDPQ Executive Vice-President Christian Dubé. “Over the years, Eddyfi has innovated by investing in technologies to provide increasingly effective solutions better tailored to its clients’ needs. Today, its equipment and software are recognized in more than 70 countries.”

Headquartered in Québec City, Eddyfi specializes in the development of equipment and software used to detect cracks, corrosion and other anomalies on different types of structures. Its advanced non-destructive testing technologies – meaning no damage is caused to the asset being inspected – are used for the inspection of critical components in industries such as power generation, petrochemicals and aerospace.

“Over the coming years, our growth will be focused in particular on strategic acquisitions,” said Eddyfi President and CEO Martin Thériault. “After acquiring Silverwing and IPN in 2016, it was important for us to team up with a partner that shared our ambitions and that had a clear understanding of our business culture and the dynamics of our industry.”