After 30 years, Electro-5 has a new owner
Electro-5 changes hands. The founder of Sherbrooke-based Claude Denis sells all of his shares to a long-time employee, Martin Therrien.
“I hired Martin for the first time while still a teenager. He then went back to school to get three professional studies degrees, in electronics, computer science and networking. I re-hired him in 2001 and we have been working together for 18 years, “summarizes Denis, who is delighted that the new owner is continuing the activities without making major changes.
As a result, the 25 employees will continue to work in the electronics, automation, control and instrumentation product distribution business, offering an endless range of products from local and international manufacturers.
When Mr. Denis founded the company in 1989, he did not believe that the adventure would be so long and interesting. “The last 30 years have gone really fast and we have gone much further than I would have imagined at the beginning,” says the president of the Sherbrooke Chamber of Commerce from 2017 to 2019.
“My original goal was to create a job for myself. I did not think of creating 25. Since its inception, the company has grown an average of 15 percent year after year. Our market has expanded and it has changed a lot as well. Initially, we focused more on the repair component, whereas in the last 15 years, our sales of parts used in the manufacture of manufacturing equipment have grown, “says Denis.
The seller is planning to retire. “I will try retirement, but I may have a teaching project. It remains to be seen, “he summarizes.
“In terms of the transaction, I am proud and happy that Martin is providing business continuity. For my part, I have feelings that go to extremes because I just sell my life. And at the same time, I finally take possession of my life, “concludes Denis.