Heritage building restoration specialist St-Denis Thompson has revamped its executive team.

The Montreal-based general contractor has also completed a financing transaction with Desjardins and Fonds immobilier de solidarité FTQ that facilitated the moves, which are tied to ownership revisions involving long-time employees.

Founding president Serge Marchand and vice-president and general manager Jean-François Routhier have transferred all of their shares in St-Denis Thompson to employees. Marchand and Routhier have remained with the company as director of sales and GM, respectively.

Danny Montambault, a company vice-president, has joined the firm’s majority shareholder group, which includes Frédéric Labadie, who is also a VP, and Ian Lapostolle. As part of the changes, Lapostelle has been appointed as the company’s new president.

“This transaction aims to support the company’s growth and strengthen its leadership by entrusting management to the management team that has contributed to the success of St-Denis Thompson for several years,” said St-Denis Thompson in a news release.

A spokeswoman for St-Denis Thompson told Connect that the deal with Montreal-based institutional investors Desjardins and Fonds only involves financing.

“For a strong local economy, local [small-and-medium-sized enterprises] must remain led by Quebecers who are rooted in their region,” said Peter Rayes, vice-president of the Fonds’ Montreal-region investment fund.

“That is why takeovers are a priority for the Fonds de solidarité FTQ network. We are proud to support the succession of St-Denis Thompson, a company with a solid plan to ensure a successful transfer.”

The revised ownership group includes seven minority shareholders who are all long-time St-Denis directors: David Cloutier, Pierre-Luc Comtois, Maxime-Olivier Decoste, Laurence Kerr, Louis-Simon Landry, Stephan Rivet and Sophie Sirois. The 10 owners have also become board members.

“The promotion of our executives demonstrates the strength and depth of our company. We are fortunate to have within our teams all the talent necessary to ensure a smooth transition, while maintaining our commitment to excellence which is at the heart of our DNA,” said Lapostolle, who will also chair the company’s board while serving as president.

The Desjardins financing component is part of a long-standing business relationship with St-Denis Thompson. By providing financing for the moves, Desjardins is continuing a

We are convinced that the new management team, with significant experience within the company, will enable us to continue the mission and growth plan of this leader,” said Guy Nadeau , vice-president of Desjardins’ Montreal business centre.

Financial terms of the transaction were not disclosed.

Pictured: St-Denis Thompson’s new executive and ownership group. The owners are also company board members.

Photo: Courtesy of St-Denis Thompson