Montreal: Post and service company Groupe Covitec has completed its purchase of Centre de Montage Electronique and Sonolab from Tele-Metropole, as well as signed an agreement to acquire Supersuite from Champlain Productions, a subsidiary of CFCF Inc.

The acquisition cost $5.7 million and will increase Covitec’s annual revenues from $7 million to approximately $20 million.

Covitec president and ceo Claude Gagnon says he plans to finalize a private placement of $2.5 million, half in the form of capital stock at $0.35 a share and the remainder made up of convertible debentures, 60% of which are convertible at $0.60 per share, the balance at $1 per share. Those talks are believed to be well advanced with Capital cdpq, a Caisse de Depot subsidiary which earlier invested $500,000 in the company.

cme’s operation, depending on the service, will be moved and integrated with Supersuite at Place Westmount Square or at Covitec’s video post center. Supersuite and Sonolab will not move.

A spokesperson for Covitec says management changes and staff levels for the 120 employees at cme, Supersuite and Sonolab will be known by early March.

cme is the city’s leading film-to-tape and Flame special effects house for tv commercials. Supersuite is a Betacam digital editing, ntsc/pal, Henry and transfer house which has won most of the domestic tv series assignments here in the past two or three years. Sonolab offers laboratory and sound services including dubbing for both films and tv production.

Covitec is an equal partner with Moliflex/White in Studio LaSalle.

The acquisitions are subject to the approval of the Quebec Securities authorities.