October 27, 2017
Deschênes Group Inc. (DGI) has entered into an agreement to acquire Corix Water Products (CWP), a division of Corix Infrastructure Inc. The transaction, which is subject to regulatory approval and other closing conditions, is expected to be completed in January 2018.
CWP distributes products for waterworks, sewer and irrigation systems with 36 locations in Canada, from the province of Quebec to British Columbia and with 12 locations in the states of Washington, Oregon, California and Texas. Under the name of Corix Control Solutions the company also provides measurement and control equipment to the oil, gas, municipal and industrial market sectors in western Canada in seven locations.
The acquisition will add 51 locations to the DGI network and 650 employees.
François Deschênes, president and CEO of DGI stated, “This acquisition is in line with our strategy to further develop our growth throughout Canada. The geographical fit with CWP will be a great complement to where we are currently located. It will also allow us to enter the U.S. market, something we have been considering seriously for several years.
“The entrepreneurial and customer focused culture that we discovered in CWP will be a great fit with our own culture, providing an opportunity to further grow both CWP and DGI together,” continued Deschênes. “We strongly believe that a distribution business is built on the quality of its people and the quality of its service. We are privileged to welcome the addition of CWP’s strong and well reputed team.”
For DGI, this acquisition of CWP will broaden the product and service offerings, enlarge the service area and strengthen the buying power of the company. Ultimately, these factors are of significant importance in helping customers and suppliers achieve greater success.
Scott Thomson, president and CEO of Corix Infrastructure Inc. said, “Our products business has a long and successful history of providing quality products by experienced and knowledgeable staff. CWP played an important role in helping establish Corix as a leader in our core North American utility infrastructure business. Finding a buyer for CWP whose culture was aligned with our own, and who had a similar vision for the future, was extremely important. We are confident that DGI is an excellent match and they will support and encourage the growth of the business in the years to come.”
Further information will be available following the completion of the transaction.