SASKATOON, SK, July 4, 2024
/CNW/ - Westcap Mgt. Ltd. ("Westcap") is pleased to announce
that its portfolio company, Timber-Tech Truss Limited Partnership
("Timber-Tech" or the "Company"), has acquired Brydon Stairs Ltd.
("Brydon"). Operating in Calgary,
Alberta, in the home construction sector, Brydon is a leader
in the design and manufacturing of stairs for multi family as well
as high volume production and custom homes.
Westcap completed its initial investment in Timber-Tech in
December 2023, through Westcap MBO
III Investment LP ("MBO III"), which is Westcap's third buyout fund
focused on succession and growth opportunities in Western Canada. Founded in 1980 in
Lethbridge, Alberta, Timber-Tech
has four decades of experience as a leading provider of engineered
truss systems and engineered wood products, servicing customers
throughout Western Canada. The
Company's ability to deliver quality products and meet demand in a
timely manner through all cycles has earned Timber-Tech a
long-standing reputation of credibility and reliability with the
top builders across Western
Canada.
Established in 1976, nearly five decades ago, Brydon
manufactures, in the Company's 22,000 square foot facility, a range
of products, including stairs, stringers and landings. The Company
serves a broad range of home builders in the Calgary market.
"Timber-Tech's acquisition of Brydon aligns with the Company's
product-line expansion strategy at a time when builders in the
market are seeking greater efficiency from their key suppliers to
reduce build times. This is an important first acquisition for
Timber-Tech since Westcap's initial investment six months ago, and
we expect that acquisitions will be a continued part of the growth
strategy going forward," says Grant J.
Kook, President and CEO of Westcap.
Alberta's economy is positioned
to remain a leader across the nation in gross domestic product
(GDP) over the next two years with robust growth due to strong
commodity prices and relative cost of living affordability. This
will continue the trend of interprovincial and international
migration into the region and drive demand for new housing and
commercial buildings.
Ms. Wendy Murphy, Chief Executive
Officer of Timber-Tech indicates, "Brydon is a well-known and
widely respected brand in the Calgary home building industry. The
acquisition represents an opportunity to supply a broader range of
high-quality products to meet the needs of the builders that
Timber-Tech serves."
About Westcap Mgt. Ltd.
Founded over 25 years ago,
Westcap is a leading private equity and venture capital fund
manager with over $1 billion in assets under management.
Westcap has an uncompromising vision to build long-term value for
investors by supporting visionary management teams in their growth
acquisition and succession strategies. Our vast network of
strategic partners and long history of success across Western Canada is grounded by our strong
culture and integrity.
Learn more at westcapmgt.ca
About Timber-Tech Truss Limited
Partnership
Founded in 1980, Timber-Tech is a leading
provider of engineered truss systems and engineered wood products,
servicing customers throughout Western
Canada. The company has a long-standing reputation of
credibility and reliability and has grown to operate two
manufacturing facilities, located in Lethbridge and Calgary with 52,000 square feet of combined
manufacturing space.
Learn more at timbertechtruss.ca
SOURCE Westcap Management Ltd.