Westcap Announces Strategic Acquisition for Timber-Tech Truss

SASKATOON, SK, July 4, 2024 /CNW/ - Westcap Mgt. Ltd. ("Westcap") is pleased to announce that its portfolio company, Timber-Tech Truss Limited Partnership ("Timber-Tech" or the "Company"), has acquired Brydon Stairs Ltd. ("Brydon"). Operating in Calgary, Alberta, in the home construction sector, Brydon is a leader in the design and manufacturing of stairs for multi family as well as high volume production and custom homes.

Westcap completed its initial investment in Timber-Tech in December 2023, through Westcap MBO III Investment LP ("MBO III"), which is Westcap's third buyout fund focused on succession and growth opportunities in Western Canada. Founded in 1980 in Lethbridge, Alberta, Timber-Tech has four decades of experience as a leading provider of engineered truss systems and engineered wood products, servicing customers throughout Western Canada. The Company's ability to deliver quality products and meet demand in a timely manner through all cycles has earned Timber-Tech a long-standing reputation of credibility and reliability with the top builders across Western Canada.

Established in 1976, nearly five decades ago, Brydon manufactures, in the Company's 22,000 square foot facility, a range of products, including stairs, stringers and landings. The Company serves a broad range of home builders in the Calgary market. 

"Timber-Tech's acquisition of Brydon aligns with the Company's product-line expansion strategy at a time when builders in the market are seeking greater efficiency from their key suppliers to reduce build times. This is an important first acquisition for Timber-Tech since Westcap's initial investment six months ago, and we expect that acquisitions will be a continued part of the growth strategy going forward," says Grant J. Kook, President and CEO of Westcap.

Alberta's economy is positioned to remain a leader across the nation in gross domestic product (GDP) over the next two years with robust growth due to strong commodity prices and relative cost of living affordability. This will continue the trend of interprovincial and international migration into the region and drive demand for new housing and commercial buildings.

Ms. Wendy Murphy, Chief Executive Officer of Timber-Tech indicates, "Brydon is a well-known and widely respected brand in the Calgary home building industry. The acquisition represents an opportunity to supply a broader range of high-quality products to meet the needs of the builders that Timber-Tech serves."   

About Westcap Mgt. Ltd.
Founded over 25 years ago, Westcap is a leading private equity and venture capital fund manager with over  $1 billion in assets under management. Westcap has an uncompromising vision to build long-term value for investors by supporting visionary management teams in their growth acquisition and succession strategies. Our vast network of strategic partners and long history of success across Western Canada is grounded by our strong culture and integrity.
Learn more at westcapmgt.ca

About Timber-Tech Truss Limited Partnership 
Founded in 1980, Timber-Tech is a leading provider of engineered truss systems and engineered wood products, servicing customers throughout Western Canada. The company has a long-standing reputation of credibility and reliability and has grown to operate two manufacturing facilities, located in Lethbridge and Calgary with 52,000 square feet of combined manufacturing space.
Learn more at timbertechtruss.ca

SOURCE Westcap Management Ltd.

For further information, please contact: Grant J. Kook, President/CEO, Westcap Mgt. Ltd., Tel: [phone]; Wendy Murphy, CEO, Timber-Tech Truss Limited Partnership, Tel: [phone]