Argyle Capital Partners Invests in TRS Components
TORONTO, Aug. 30, 2022 /CNW/ - Argyle Capital Partners ("Argyle") is pleased to announce it has acquired TRS Components Ltd. ("TRS"). The transaction closed in July 2022.
TRS is one of Ontario's leading manufacturers and installers of roof trusses, wall & floor panels for the new home construction market. With over 130 employees, TRS supplies its products and services out of Thorndale, Ontario and Romeo, Michigan.
Ed Davis, President of TRS said "TRS has been a leading player in roof trusses for over 45 years in Southwestern Ontario. Over that time, we have grown significantly and now in addition to roof trusses, we manufacture complete packages that include wall panels and floor joists, and provide customers the option of installation of our products. Four years ago, we entered the Michigan market with our second manufacturing facility and continue to look for more ways to expand our products and services. I could not be more excited about the future for TRS and its employees and believe Argyle are the right team to assist us in achieving our goals."
Along with Ed Davis, Mike Salo, Vice President, and Head of Sales, as well as all the senior management team will be remaining at TRS.
Glenn Gatcliffe, Partner at Argyle said, "TRS's reputation as one of the leading truss manufactures attracted us immediately. The entire TRS team is focused on delivering on-time, the highest quality products and services in the industry. Ontario remains in a perpetual housing deficit, and we believe TRS is uniquely positioned to fill the demand for single family and multi-residential low-rise housing. Further, we believe the "panelization" of housing construction will continue to grow and having class-leading facilities located in growth markets is a strong competitive advantage. We look forward to working with Ed and Mike and everyone at TRS as we embark on the next stage of the Company's growth and success."
Argyle partnered with Celina Capital Corporation ("Celina"), a family office based in Toronto, on the transaction. Andrea Nickel, Managing Director and Edward Feldman, VP Corporate Development at Celina, will serve as members of the Board of Directors alongside representatives from Argyle.
Started in 1974, TRS Components is a leading manufacturer and installer of roof trusses and related wood products, including wall panels and floor joists, to the residential and commercial construction industry. TRS has manufacturing facilities in Thorndale, Ontario and Romeo, Michigan.
Founded in 2016, Argyle Capital Partners is a Toronto-based private equity firm focused on partnering with family-owned businesses in the lower middle market. Argyle traditionally focuses on industrial products businesses within service, manufacturing, and distribution.
SOURCE ARGYLE CAPITAL PARTNERS
Glenn Gatcliffe, Partner 416-388-2644; Mark MacPherson, Co-Founder, 647-993-5240
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