Deschênes Group Inc. (DGI) has acquired Corix Water Products (CWP), a division of Corix Infrastructure Inc., cementing its position as the leading Canadian-owned company in its industry by gaining access to the U.S. market.
The acquisition expanded the geographic area where DGI distributes products for water, sewage, and irrigation systems, and will push the company’s sales past the billion-dollar mark.
“The transaction with CWP fits perfectly with our growth strategy,” said DGI President and CEO François Deschênes. “When we’re looking to make an acquisition, finding a company that’s the right fit and shares our values is key. That’s exactly what we found with CWP — a Canadian company that’s established in the U.S., is customer oriented, and employs highly qualified people. Our priority is to ensure a smooth transition for our teams and create a stimulating work environment that will ultimately benefit all our customers.”
The acquisition has added 55 new sales outlets to DGI’s current network, including 43 across Canada and 12 in the states of Washington, Oregon, California, and Texas. DGI now has 186 sales outlets and 2,600 qualified employees.
The names of the various companies involved in the transaction currently remain the same in Canada and the U.S.
“CWP is a strong business that will undoubtedly continue to grow in the years to come,” said Corix Infrastructure Inc. President and CEO Gordon Barefoot. “We wish them continued success under their new ownership.”
DGI is active in six main sectors across Canada: plumbing and heating, electrical, waterworks, HVAC/R, fire protection, and, since 2016, auto parts. The transaction to acquire CWP will add a seventh line of business to the list — providing measurement and control equipment to the oil, gas, industrial, and municipal market sectors in Western Canada via Corix Control Solutions.
(newswire)
