Investissement Québec has granted a loan of more than four million dollars to the new buyers of the Le Relais du Lac-Beauport ski center.
As of 1er May 2024, the state-owned company granted the buyers a loan of $4,250,000 following an offer made by the government.
Investissement Québec (IQ) was created in 1998 to encourage investment in Quebec by Quebec and international companies.
The Le Relais ski center was recently sold to a group of four businessmen from Quebec, including the CEO of the Festival d’été de Québec.
The buyers, all “ski enthusiasts”, are Nicolas Racine, president and CEO of the Summer Festival and former CEO of the Le Massif Group, lawyer and ski coach Henrick Simard, as well as Francis Moreau and Nicolas Boucher .
The representative of the new owners is Me Henrick Simard, a business law lawyer who specializes in the areas of mergers, acquisitions and corporate financing.
The actual amount of the transaction remains confidential at this time.
Popular resort
In order to comply with legal obligations, a deed of sale for $5.65 million only for the buildings was published in the last few days, even though the land value is double.
The seven ski lifts, the various equipment, the snowmaking system and the commercial value linked to traffic are notably not included in the real estate. The private partners do not want to reveal the total amount of the transaction.
The group says it wants to continue the mission and the “caring and open management style” of the ski center, which has some 350 employees in winter.
Last season, the magazine Protect yourself ranked 19 resorts based on criteria including ticket prices, food offerings, safety, and number and variety of slopes. According to their rankings, Le Relais is the most popular resort in Quebec.
The Relais has 33 slopes, seven ski lifts and three snow parks.
– With the collaboration of Philippe Langlois
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