Caisse de Depot et Placement du Quebec has agreed to buy a minority stake in supply chain compliance provider QIMA. 

The Canadian pension fund is acquiring the stake in QIMA from Asia-focused private equity firm Navis Capital Partners, according to a statement on Wednesday, which confirmed an earlier Bloomberg News report. Terms weren’t disclosed.

CDPQ is investing around US$250 million in Hong Kong-based QIMA, people familiar with the matter said, asking not to be identified because the information is private. 

QIMA, which is majority owned by its chief executive officer, Sebastien Breteau, helps companies monitor their supply chains by providing audit programs and on-the-ground factory inspections. It also offers laboratory testing, supplier audits and quality assurance certifications for products like garments, fresh produce and processed foods.

The company, founded in 2005, now has operations in 88 countries and works with more than 15,000 companies. Last year, QIMA launched a digital software-as-a-service platform that lets customers oversee their procurement networks and view compliance data online. 

“We are delighted to partner with QIMA and to support the company in its next phase of growth,” Albrecht von Alvensleben, head of CDPQ’s European private equity team, said in a statement. 

QIMA, formerly known as AsiaInspection, has expanded through a series of acquisitions in recent years. It completed the purchase of Mexican standards body NYCE in January to expand its certification offering in Latin America. In June, it invested in, a London-based startup that helps mitigate supply chain disruptions. QIMA bought World Quality Services in 2019 to boost its presence in the North American food industry. 

PwC advised CDPQ on the investment, while Accuracy provided financial advice to QIMA and the company’s management worked with Oloryn Partners.