PrimeSource Canada, a wholly owned subsidiary of PrimeSource Building Products, has signed an agreement to acquire Langtry Industries. The subsidiary expects to finalize the acquisition by mid-December.
Langtry is an independent distributor of building materials
and fasteners servicing the wholesale fastener, building supply, plumbing,
electrical, and industrial supply markets throughout Canada,
with locations in Vancouver, British
Columbia; Calgary, Alberta; Winnipeg, Manitoba; London, Ontario; Montreal, Quebec; and Dartmouth,
Langtry offers a wide range of fasteners to lumber yards,
home center chains, retail hardware stores and the industrial supply and OEM
manufacturing markets. In recent years, the company has added anchoring
systems, brads and staples, collated screws, and rotary hammer drill bits.
“The compatibilities that exist between PrimeSource Canada and
Langtry Industries in terms of our business models, customers and markets [are]
remarkable,” said Ken Fishbein, co-chief executive officer of PrimeSource.
“Although this acquisition will result in the continuation and growth of the
Langtry line, an expanded product offering will develop as PrimeSource adds the
full line of Grip-Rite products and brand-name building materials to the newly
integrated locations across Canada.
Customers will experience the same best-in-class products and service that we
deliver across United States
from our 35 distribution centers.”
Fishbein said customers of both PrimeSource Canada and
Langtry Industries should expect normal business operations to continue through
the foreseeable future. Terms of the acquisition were not disclosed.
PrimeSource Canada to Acquire Langtry
December 7, 2010