Building Products Acquisitions in Canada

Armstrong World Industries (AWI) has acquired Eventscape, a Toronto- and New York–based design, fabrication and installation firm known for high-design architectural features. The deal expands AWI's custom design and fabrication capabilities across its Architectural Specialties portfolio and was funded with cash and a revolving credit facility; District Capital Partners served as buy-side adviser.

Montreal-based Richelieu Hardware Ltd. completed ten acquisitions across Canada and the United States during fiscal 2025, adding roughly $100 million of annual sales and marking the 100th acquisition in the company's history. Transactions announced included the purchase of Ideal Security (Greater Montreal), Finmac Lumber (Winnipeg), Klassen Bronze (New Hamburg) and three distribution centres from McKillican American (Portland, Seattle and Spokane), among others, expanding Richelieu's private-brand portfolio and North American distribution footprint.

Capstone Holding Corp. (NASDAQ:CAPS) has closed the acquisition of Canadian Stone Industries (CSI), a multi-location distributor that adds approximately $15 million of annual revenue. The deal expands Capstone’s North American footprint, strengthens its premium brand portfolio, and is expected to be immediately accretive to revenue and EBITDA.

ThirdGen Timber Group, a family-owned Canadian log and timber group, has acquired a majority stake in Canadian Timberframes Ltd., a Golden, British Columbia-based manufacturer of premium timber frame structures. The deal brings Canadian Timberframes into ThirdGen’s platform alongside True North Log & Timber Homes and Legacy North Construction Management to expand manufacturing capabilities and end-to-end timber construction offerings across North America.

Armstrong World Industries has acquired Geometrik Manufacturing Inc., a Kelowna, British Columbia–based designer and manufacturer of wood acoustical ceiling and wall systems. The acquisition expands Armstrong’s wood product portfolio and manufacturing capabilities in Canada and the U.S., and was funded with available cash; District Capital Partners served as buy-side adviser.

Timber-Tech Truss Limited Partnership, a Westcap portfolio company, has acquired Darmac Framing Systems, a Balzac, Alberta-based fabricator of panelized and modular building components. The add-on expands Timber-Tech's prefabrication capabilities, enabling it to provide the full structural package for residential construction and support accelerated growth across Western Canada.

Holcim has acquired the operations of Langley Concrete Group Inc., a family-owned precast concrete manufacturer based in British Columbia, including two production facilities in Chilliwack and Duncan. The acquisition brings approximately 180 employees into Holcim and expands the company's precast footprint and capabilities in the province to better serve municipal, commercial and industrial infrastructure projects.

KV Capital’s private equity team (via KV Private Equity Fund III) has formed a partnership with Benson Cabinetry & Millwork Ltd., a family-run custom cabinetry and millwork manufacturer based in Saanichton, British Columbia. The investment will deepen Benson’s capital base and management capabilities while Benson’s founders, Tim and Natalie Benson, remain in place as the company pursues expanded supply to multi-residential homebuilders across Vancouver Island and Canada.

ASSA ABLOY has acquired Canadian manufacturer, distributor and installer Wallace & Wallace (also referred to as Wallace Perimeter Security), which makes perimeter fencing, doors and gate solutions for commercial and residential markets. The Winnipeg-based business (founded 1946) has about 160 employees and C$57 million in 2024 sales; ASSA ABLOY said the deal strengthens its Perimeter Security offering and presence in Central Canada.

Built Prefab has acquired Lake Country Modular to broaden its modular and manufactured housing offerings across Western Canada. The deal brings Lake Country Modular's attainable manufactured, multi-family and First Nations housing capabilities into Built Prefab's platform to accelerate move-in-ready solutions and streamline project timelines.

Legrand has acquired Power Bus Way, a Toronto-based specialist in custom cable bus power busbars serving data centers, industrial facilities and large commercial projects. Power Bus Way employs more than 120 people and generates around €70 million in annual revenue; the business will join Legrand's Electrical Wiring Systems division to broaden its cable bus offering and strengthen its North American data center power capabilities. Terms were not disclosed.

Funds managed by affiliates of Fortress Investment Group have acquired a majority stake in Gyptech, the Burlington, Ontario–headquartered designer and fabricator of gypsum wallboard and asphalt-shingle manufacturing equipment. The transaction (in which Gyptech management retains a minority stake) was announced as providing strategic support for global growth, scaling innovative technologies, and expanding aftermarket and energy‑reduction offerings; Wynnchurch Capital is the selling private equity sponsor. Moelis acted as Fortress's financial advisor and Evercore as placement agent on the financing.

Carlisle Companies has completed the purchase of the expanded polystyrene (EPS) insulation segment of PFB Holdco, Inc. — comprised of the Plasti‑Fab and Insulspan brands — for approximately $259.5 million in cash. The business, headquartered in Calgary, Alberta with manufacturing operations in Canada and the U.S., expands Carlisle's EPS capabilities and geographic footprint and is expected to close in Q4 2024 (transaction announced as a sale by The Riverside Company / PFB).

AccessSMT, a portfolio company of Speyside Equity Fund I LP, completed the acquisition of CP Distributors Ltd. on October 1, 2024. The combination creates roughly CAD 250 million in annual revenue, positioning the combined business as Canada’s largest door, hardware and specialties supplier and supporting an aggressive growth strategy into the U.S.

Wilsonart, a global engineered surfaces company, acquired Toronto-based Octopus Products, Ltd., a decorative surfacing brand known for high-pressure laminate (HPL), decorative metals and wood panels. Octopus will operate as part of Chicago-based Laminart (a Wilsonart company); terms were not disclosed and the deal closed on August 21, 2024.

PrimeSource Brands, a Clearlake-backed provider of specialty residential building products, has acquired Cobra Anchors, a Montreal-based maker of hollow-wall, universal and masonry anchors. The acquisition expands PrimeSource's branded product portfolio and channel reach into home centers, lumberyards and specialty retail; financial terms were not disclosed.

Beacon Roofing Supply (Nasdaq: BECN) completed the acquisition of SSR Roof Supply Ltd., adding two branches in the Vancouver market (Burnaby and Surrey), British Columbia. The deal expands Beacon’s British Columbia footprint to three branches and strengthens its ability to serve contractors across the province; the Bath family (Raj, Sunil and Surinder Bath) sold the business to Beacon.

The Shaughnessy Group announced the completion of a sell-side mandate for the sale of an undisclosed Canadian distributor and contractor specializing in commercial doors, door frames, door hardware and windows. The process — begun with a valuation in winter 2023 and marketed to strategic and financial buyers — concluded in July 2024 to facilitate a leadership succession and ownership transition for the company’s principal shareholders.

All Weather Group (AWG), a leading Canadian windows, doors and glass manufacturer, has acquired Westeck Windows and Doors, a premium manufacturer serving the Pacific Northwest. The acquisition expands AWG's manufacturing footprint and market presence in British Columbia and represents AWG's initial entry into the United States; Westeck and AWG's existing businesses will continue to operate with their brand identities.

Core & Main Inc. has agreed to acquire substantially all of the assets of HM Pipe Products (including HM Pipe Products Kitchener), a Canadian distributor of water and wastewater products operating in London and Kitchener, Ontario. The acquisition expands Core & Main's footprint into Canada and is intended to leverage HM Pipe Products' local market knowledge and customer relationships to serve Canadian municipal and contractor waterworks markets.

Timber-Tech Truss Limited Partnership, a Westcap-backed platform company, has acquired Calgary-based Brydon Stairs Ltd. The add-on expands Timber-Tech's product offering into stairs, stringers and landings to better serve homebuilders across Western Canada and supports Timber-Tech's growth strategy following Westcap's investment in late 2023.

ASSA ABLOY Group has acquired Wesko Locks Ltd., a Mississauga-based Canadian manufacturer of electronic and specialty locks. The acquisition expands ASSA ABLOY's product portfolio in high-security and electronic locking solutions and strengthens its position in mature markets.

Allegion plc has acquired Unicel Architectural Corp., a Quebec-based manufacturer of advanced glass, timber and aluminum building solutions. The acquisition will expand Allegion's core non-residential portfolio and specification capabilities across healthcare, education, government and other institutional markets in Canada and the U.S.; financial terms were not disclosed.

SiteOne Landscape Supply, Inc. (NYSE: SITE) has acquired Cohen & Cohen Natural Stone, a wholesale distributor of hardscapes products operating a single location in Ottawa, Ontario, Canada. The deal expands SiteOne’s product offering and market presence in eastern Canada, adding local hardscapes capabilities to its landscape supplies network.

MASTERGRAIN has acquired Fibercraft Door Company, a Hanover, Ontario-based manufacturer of large-format fiberglass pivot and luxury entry door systems. The deal expands MASTERGRAIN’s manufacturing capabilities and product offerings in the premium/luxury fiberglass door segment and aims to broaden distribution across North America.

GMS Inc. agreed to acquire Yvon Building Supply, Yvon Insulation Corporation, Yvon Insulation Windsor, Laminated Glass Technologies, Inc., and Right Fit Foam Insulation Ltd. for an aggregate purchase price of up to CAD$196.5 million. The acquisition expands GMS’s presence and complementary product and service offerings across the Greater Toronto Area and southern Ontario; Yvon operates seven locations and generated roughly CAD$190–195 million in trailing twelve-month revenue.

KV Capital’s private equity division has partnered with Nelson Lumber Company Ltd. and Nelson Homes to launch a building products platform, with ATB Private Equity and BDC Capital joining the investment. The transaction provides growth capital to accelerate Nelson Lumber’s operations, expand market reach in Alberta, and support the platform strategy under KV Private Equity Fund III while current shareholders remain involved.

Saint-Gobain has signed a definitive agreement to acquire The Bailey Group Companies (Bailey-Hunt Limited and subsidiaries) for C$880 million in cash. The Canadian metal framing manufacturer reported C$532 million in 2023 sales, ~700 employees and 12 plants across Canada; the deal strengthens Saint-Gobain's light and sustainable construction offering in Canada and is expected to close in H2 2024.

Ideal Supply, a subsidiary of Groupe Deschênes, has acquired Electrical Wholesale Supply, a regional electrical distributor serving Windsor and Leamington, Ontario. The acquisition expands Ideal Supply's geographic footprint in southwestern Ontario; terms were not disclosed.

Westcap Mgt. Ltd., through its Westcap MBO III Investment LP fund, has completed an investment in Timber-Tech Truss Limited Partnership, a manufacturer of engineered truss systems and engineered wood products headquartered in Lethbridge, Alberta. The transaction supports Timber-Tech's succession planning and growth ambitions across Western Canada, where the company operates three manufacturing facilities and employs about 100 people.

Ferguson plc has signed definitive agreements to acquire Yorkwest Plumbing Supply Inc. and Grove Supply, Inc., and closed the acquisition of Harway Appliances, with the three businesses having aggregate annualized revenues of approximately $220 million. The bolt-on deals expand Ferguson's plumbing, HVAC and showroom footprint across Canada and the U.S., and Harway closed on Jan. 8 while Yorkwest and Grove are expected to close within 90 days subject to customary conditions.

ASSA ABLOY has acquired Leone Fence, a Canadian manufacturer, distributor and installer of fencing products, strengthening ASSA ABLOY's perimeter security offering in Canada. Leone Fence, founded in 1975 with about 60 employees and headquarters in Ontario, reported CAD 39 million in 2022 sales; the acquisition is expected to be accretive to ASSA ABLOY's EPS from the start.

Founders East Capital Partners has completed an investment in Alumitech Architectural Glass and Metal, a Halifax-based provider of engineered curtain walls, architectural windows, skylights, storefronts, doors, metal cladding and custom fabricated architectural glass. Founder Norsat Eblaghi will remain an owner and director and will work with Founders East to select and mentor the company’s next president as part of a succession-focused recapitalization to support the company’s next phase of growth.

Sagard Private Equity Canada has made a significant investment in Norbec Inc.'s share capital, joining Desjardins Capital, Norbec's founder and the company's management team as shareholders. The capital injection will support Norbec's continued scaling of manufacturing operations and targeted regional expansion while the company remains headquartered in Boucherville, Quebec with ~325 employees.

Montreal-based The Protech Group has acquired 100% of MF Paints Inc., a Laval, Quebec manufacturer and distributor of architectural paints and stains, with the transaction effective October 7, 2023. Protech said it will leverage its purchasing, technical and manufacturing capabilities to expand MF Paints' product offerings and strengthen its presence in the Canadian retail and commercial building paints market; the Morello family and MF Paints shareholders sold the company.

ASSA ABLOY has acquired Canadian commercial-hardware providers Lawrence Hardware and Gallery Specialty, adding complementary hinges, locksets, exit devices and door-hardware accessories to its product portfolio. The two Toronto-based businesses employ about 50 people combined and reported ~CAD 25 million in 2022 sales; ASSA ABLOY said the acquisition is accretive to EPS from the start.

West Fraser Timber Co. Ltd. agreed to acquire Spray Lake Sawmills in Cochrane, Alberta for C$140 million. The mill (155 million board feet annual capacity) expands West Fraser's treated wood business and Southern Alberta footprint and provides access to high-quality timber supply; the deal is subject to customary regulatory approvals and closing conditions.

Heidelberg Materials North America has entered into a definitive agreement to acquire Green Drop Rock Products, an independent aggregates producer with a high-capacity plant in Cochrane, Alberta. The acquisition is intended to strengthen Heidelberg's aggregates reserves and integrated footprint in the Greater Calgary market and is expected to close on September 1, 2023.

Cornerstone Building Brands has acquired MAC Metal Architectural, a Saint-Hubert, Quebec-based manufacturer of high-end steel siding and roofing products. The acquisition expands Cornerstone’s exterior building-products portfolio and supports MAC Metal’s growth beyond Quebec; MAC Metal employs approximately 100 people.

Ironbridge Equity Partners completed a recapitalization and purchase of the assets of the Gesco Group of Companies, including Shnier, Division9 and Tierra Sol Ceramic Tile, to support a new chapter of growth and operational improvement. The Toronto-based private equity firm will back renewed investment in product, marketing and service to drive growth across Gesco’s national floorcovering and tile distribution businesses in Canada.

Saint-Gobain has signed a definitive agreement to acquire Building Products of Canada Corp. for C$1,325 million in cash. The acquisition strengthens Saint-Gobain's exterior solutions in Canada by adding roofing and wood-fiber insulation capabilities and expands its leadership in light and sustainable construction in the Canadian market.

TRS Components Inc., a portfolio company of Argyle Capital Partners, and Terra Nova Truss completed a merger of equals that closed on April 1, 2023, creating one of the leading truss companies in Ontario and Canada. Argyle and co-investor Celina Capital Corporation backed the combination to expand geographic coverage, scale manufacturing capacity across four facilities, and pursue cross-selling and cost-savings opportunities.

GMS Inc. acquired Jawl Lumber Corporation, which operates as Home Lumber & Building Supplies in Victoria, British Columbia, to expand its platform presence and complementary product offerings on Vancouver Island. The single-location lumber and building materials supplier will join GMS's Canadian operations to strengthen local market coverage and extend tools and fasteners offerings.

Lafarge Canada has acquired the operations of Westridge Quarries, adding two quarries and a sand and gravel reserve in the Okanagan Valley to expand its aggregates footprint. The deal brings roughly 70 Westridge employees into Lafarge and supports Lafarge's Strategy 2025 to grow its aggregates business in high-growth markets.

ODL, Inc. has acquired Tru Tech Doors, a Canada-based manufacturer of high-performance steel and fiberglass exterior doors, marking ODL's entrance into exterior door manufacturing. Tru Tech founder John Careri will join ODL as Executive Vice President and President of the Door Division, and ODL expects to retain Tru Tech's employees and Ontario manufacturing facilities.

Westview Co-op is acquiring Grasse Lumber Sales to open its first Home and Building Centre in Didsbury, Alberta. The cooperative will offer employment to Grasse Lumber Sales staff and expects the transaction to close in late March subject to customary conditions; financial terms were not disclosed.

Exchange Income Corporation (EIC) agreed to acquire BVGlazing Systems Ltd. for a purchase price of $95 million, funded with $23 million of common shares and $72 million of cash from its credit facility. The acquisition, an add-on to EIC’s Quest Window Systems platform, expands EIC’s building envelope capabilities by adding curtain wall and railing systems and strengthens its North American coverage; the deal closed following Competition Act approval in April 2023.

TriWest Capital Partners has acquired a majority interest in Phoenix Fence Corp., a manufacturer, distributor, and installer of fencing products based in Edmonton, Alberta. The transaction marks TriWest's sixth platform investment from its 2021 Growth Fund and aims to support Phoenix Fence's growth and diversification across commercial, industrial, and residential markets in Western Canada.

CEMEX USA has signed a definitive agreement to purchase the assets of Atlantic Minerals Limited in Newfoundland, including a construction and chemical-grade aggregates quarry and associated port operations. The acquisition secures a long-term aggregates reserve to support CEMEX's Florida and Eastern U.S. operations and strengthen its aggregates supply chain.

NAMAKOR Holdings has acquired Clôtures Frontenac Inc., a Quebec-based manufacturer and supplier of residential, commercial and institutional fencing products. The founders will remain as advisors while NAMAKOR provides human and financial resources to accelerate organic growth and expand Frontenac’s geographic reach.