NANAIMO – Atlas Engineered Products has expanded their operations by purchasing Leon Chouinard et Fils Co. Ltd. of New Brunswick, a manufacturer of roof trusses, floor systems, wall panels and a supplier of engineered wood products.
The acquisition of LCF was completed effective August 23, 2023 for $26 million plus $2,884,737 ($28,884,737 total). The purchase price includes the land and buildings on which LCF’s facilities are located which have been appraised at $2.792 million.
The transaction is aligned with Atlas’ strategic acquisition plan and expands the company’s geographical reach, as well as growing its wall panel manufacturing expertise and capacity. In 2022, LCF generated over $25.7 million in revenues and net income of over $6.3 million.
“We are excited to announce the acquisition of our 8th manufacturing facility. Now is the time to move forward with a strategic acquisition that expands our reach into a new location as we continue to grow our national footprint,” says Atlas CEO, President and Founder Hadi Abassi. “LCF fits nicely into our overall, long term strategic plan and we are excited they have joined the AEP group of companies. The company is currently reviewing a number of additional acquisition targets and will maintain a disciplined approach to acquiring new manufacturing facilities that fit our long-term goals.”
Business Examiner Staff