Welcome home: a group of Qubec investors buys back ATIS Group
At a press conference held today at the headquarters of ATIS Group, the company’s management, together with representatives of the Fonds de solidarité FTQ, Capital régional et coopératif Desjardins (CRCD) and Fondaction CSN announced that they have acquired the Québec door and window manufacturer. ATIS Group was founded in 2004 with the acquisition of Laflamme Doors and Windows and Solarcan Doors and Windows.
Robert Doyon will remain an ATIS shareholder and stay on as the company’s president and CEO. The management team will also continue on, and some of its members will remain minority shareholders.
ATIS Group is one of Canada’s largest manufacturers of doors and windows, with 9 manufacturing facilities, 19 stores, 1,400 employees, including 900 in Québec, and some $200 million in revenues. The group manufactures, distributes and sells a complete range of energy-efficient doors, windows and products for the residential and commercial construction and renovation markets through its affiliates Altek, ATIS Portes et Fenêtres, Allsco, Extrusion SP, Laflamme, Phoenix Glass and Vinylbilt Windows & Doors.
“ATIS is a perfect example of a thriving Québec manufacturer. That’s why the Fonds de solidarité FTQ approached the company several months ago and jumped at the opportunity to get it back into Québec hands. Given the calibre of the financial partners involved in this deal and the company’s management team, we’re confident ATIS will continue to prosper,” said Normand Chouinard, Executive Vice-President, Investments, at the Fonds de solidarité FTQ.
“This deal couldn’t come at a better time for ATIS. Our recently launched five-year strategic growth plan is moving ahead full steam, with three acquisitions in the last six months. Our new investors know the manufacturing industry very well and their expertise will allow us to optimize our growth. There are some excellent opportunities out there that we will now be able to seize thanks to them,” said ATIS President and CEO Robert Doyon. “After a very successful 10-year partnership with U.S. investment firm Cyprium Partners, it’s time to write the next chapter in our company’s history. We are therefore greatly looking forward to the arrival of our new investors.”