Trailer Manufacturer Manac Going Private

SAINT-GEORGES, QC-- Canada's largest trailer builder, Manac, has been transferred from public to private ownership. The announcement was made Thursday. The original founding Dutil family will be among the consortium of new owners. Media reports say the Dutils will be investing $36 million in the private company while Quebec's pension fund manager, its Quebec manufacturing fund, a labor fund and Investissement Quebec are providing $104 million in equity investments and loans. Manac was spun off from the Canam Manac Group in 2004 and taken public in 2013. Charles Dutil, Manac president and CEO, will remain in his current position.