ALLSCO to become Atlantic Canada cornerstone of growing national network
Montreal, QC – March 25, 2010– ATIS Group announced today the acquisition of ALLSCO Building Products Ltd. of Moncton, New Brunswick, which will become the Atlantic Canada cornerstone of ATIS Group’s fast-growing national network. ATIS Group has completed 11 acquisitions since embarking on its growth-by-acquisition strategy in 2004.
“Having completed a first series of acquisitions and invested heavily in common financial, ERP, sales and IT systems, ATIS Group is moving forward with its growth-by-acquisition strategy on an ever more solid footing,” said Robert Doyon, President, CEO and shareholder of ATIS Group. “ALLSCO is a clear leader in Atlantic Canada and will give ATIS a presence in new markets, diversify our product lines and offer exciting cross-selling opportunities, such as ALLSCO’s siding and shutters and ATIS Group’s heated windows and doors and other high performance energy-efficient products.”
Founded 34 years ago by Don Lahanky and with sales of approximately $25 million and 150 employees, ALLSCO manufactures and supplies PVC windows, steel entry door systems, shutters and designer sidings. ALLSCO’s products are used for both commercial and residential construction. The company has an extensive distribution network in the Maritimes, including a sales and distribution centre in Dartmouth and a state-of-the-art distribution centre in Moncton.
“Through our due-diligence we learned that the trademark of ATIS Group is to acquire family-run businesses with similar values and integrate them into the larger ATIS Group family, where best practices emerge and are shared,” said Gordon Lahanky, President of ALLSCO. “The fact that ALLSCO remains an individual company, operating under the guidance of our family and current management team makes us confident that this is the right decision.”
“ATIS Group is one of the largest national manufacturers of doors and windows and the clear consolidation leader over the last few years,” said Robert Doyon. “We are delighted to count on ALLSCO to consolidate our position as a true pan-Canadian company.”
ALLSCO will continue to operate at their current locations in Moncton, New Brunswick and Dartmouth, Nova Scotia.
About ATIS Group
ATIS Group is one of the largest manufacturers of doors and windows in Canada with 11 factories, 2,000 employees and revenues of approximately $250 million. The group manufactures, distributes and markets a complete range of doors, windows and high performance energy-efficient products for the construction and home improvement markets through its affiliated companies: Allied Windows, Allsco, Extrusion SP, Laflamme, Melco, Phoenix Glass, Solarcan, Vimco and Vinylbilt Windows Systems.
About Key Principal Partners
Key Principal Partners (KPP) is a $1 billion private investment firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing, deleveraging or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich, and San Francisco.