The Globe and Mail reports in its Tuesday edition that Quebec's Caisse pension fund is backing another homegrown industry consolidator, committing $125-million in equity for a minority share of Levio Consulting Inc. The Globe's Sean Silcoff writes that the Quebec City-based information technology services firm has made 11 acquisitions in Canada to date. It generates more than $300-million in annual revenue with operating earnings in excess of 20 per cent of sales. Now backed by the Caisse, its first outside investor, Levio is looking to make even larger deals across Canada and the United States in a quest to reach $1-billion in revenue by 2029. "We would like to replicate with Levio what we did" backing other Quebec-based consolidators, including WSP Global, CGI and Nuvei, said the Caisse's Jacques Marchand. The Caisse last year bought stakes in two other Quebec-based mergers-and-acquisitions-driven software companies, Work-leap Technologies Inc. and Vooban Inc. Levio was founded in 2014 by Francois Dion. Levio's 200 active, primarily Quebec-based clients are focused in financial services, telecom and government sectors, including Liberty Mutual Insurance, Fiserv, National Bank of Canada and Morgan Stanley.