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Nov 21, 2025
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BCF Advises Groupe Honco on a Strategic Minority Investment by La Caisse and Investissement Québec
LÉVIS & MONTRÉAL, November 19, 2025 — A major strategic investment is strengthening Québec’s steel transformation industry. La Caisse and Investissement Québec have acquired a minority stake in Groupe Honco inc., a leading Québec-based steel transformation group. This investment ensures the continuity of Québec ownership while providing the company with the financial leverage needed to accelerate its expansion across Canada and internationally.
BCF is proud to have advised Groupe Honco, its President Francis Lacasse, members of the Lacasse family, and the management team on this milestone transaction.
A Strategic Investment to Propel Growth
Led by La Caisse, with the participation of Investissement Québec, the minority investment marks a pivotal moment in Groupe Honco’s long-term growth strategy. The company’s management team has also joined the shareholding structure, reinforcing a governance model focused on stability, innovation, and sustainable expansion.
This investment will allow Groupe Honco to:
- accelerate its pan-Canadian and international expansion;
- strengthen its Québec ownership and long-term positioning;
- enhance its manufacturing capacities;
- pursue modernization initiatives across its facilities;
- diversify its industrial product offering and markets.
With six specialized business units and nearly 500 employees, Groupe Honco holds a strategic position in several key industries, including steel transformation, construction, and industrial manufacturing.
An Integrated Leader in the Steel Transformation Industry
Groupe Honco’s strength lies in its integrated structure, which brings together complementary expertise across its six business units:
- Honco Bâtiments – General contractor specializing in design-build and manufacturer of prefabricated steel buildings
- Sturo Métal – Manufacturer and installer of steel structures
- Supervac – Manufacturer of vacuum equipment and hydro-excavation solutions
- Garex – Manufacturer of garage doors
- Ridge Nassau – Manufacturer of garage door hardware
- Métalec – Manufacturer of commercial and industrial steel doors and frames
These divisions collectively serve more than 600 clients across the private, public, and institutional sectors in Canada, the United States, and more than 20 countries worldwide.
BCF’s Role in the Transaction
BCF represented Groupe Honco inc. and its shareholders in connection with this minority investment by La Caisse and Investissement Québec, including the participation of the management team.
- Audrey St-Pierre (Lead Partner)
- Laurence Lavertu
- Émilie Morin
- Marc-Antoine Couture
- Nicolas St-Sauveur
- François Lefebvre
- Émile Côté-Soucy
- Paul Caron-Plaisance
- Chantal Laboissonière
- and several additional members of our multidisciplinary team.
Source : La Caisse press release
About
About
Groupe Honco is a Québec-based group of companies specializing in steel transformation, construction products, and industrial solutions. The group operates multiple manufacturing facilities that serve clients across more than 20 countries, including Canada and the United States.
Learn more at: groupehonco.com
For 60 years, La Caisse (formerly CDPQ) has invested with a dual mandate: generating long-term returns for its 48 depositors—representing over six million Quebecers—and contributing to Québec’s economic development. With CA$496 billion in net assets as of June 30, 2025, La Caisse is active globally in private equity, infrastructure, real estate, public markets, and private credit.
Investissement Québec actively contributes to Québec’s economic development by supporting companies in their projects involving innovation, productivity, global expansion, and workforce strategies. Through financing and strategic advisory services, Investissement Québec plays a key role in strengthening the competitiveness of Québec businesses and driving their international growth.
