TRIWEST CAPITAL PARTNERS SELLS ZYTECH BUILDING SYSTEMS
Calgary, Alberta (October 11, 2023) — TriWest Capital Partners (“TriWest”) today announced that it has sold ZyTech Building Systems LP (“ZyTech” or the “Company”) to Dick’s Lumber, a banner of RONA Inc. (“RONA”). RONA is one of Canada’s leading home improvement retailers, operating or servicing some 425 corporate and affiliated stores.
Established in 1997, ZyTech is a leading designer, manufacturer and distributor of high-quality building materials for the construction industry, including roof trusses, floor trusses, wall panels, stairs and lumber packages. The Company services its customers from its facilities in Balzac and Airdrie (near Calgary), Leduc (near Edmonton), Red Deer, Saskatoon and Dallas / Fort Worth. These locations are supplemented by sales offices in Calgary and Stony Plain (near Edmonton).
“We are grateful we had the opportunity to partner with Glenn German, founder of ZyTech, and the rest of the ZyTech team in 2014, and to have participated in the Company’s success over the past nine years,” said Chad Danard, Senior Managing Director, TriWest. “We have been highly impressed with the ability of Mike Powell, CEO of ZyTech, and Ross Clements, retiring CFO of ZyTech, to navigate an ever-changing environment, and to accelerate the Company’s growth”. Norm Rokosh, Senior Managing Director, TriWest, added “we very much enjoyed working with the entire ZyTech team and wish them continued success with Dick’s Lumber as their new partner.”
Mike Powell commented, “we very much appreciate the guidance and support that TriWest has provided to us over the years, and look forward to our new partnership with Dick’s Lumber and RONA. The combination of these highly complementary businesses will present new opportunities to better service our customers.”
TriWest’s financial adviser was Lincoln International with legal advice provided by Bennett Jones. Tax and financial due diligence services were provided by Ernst & Young.
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over C$1.6 billion in committed capital through seven funds. TriWest has successfully invested in 48 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information: www.triwest.ca
For more information:
TriWest Capital Partners
Dino DeLuca, Chief Operating Officer
Email: ddeluca@triwest.ca Tel: (403) 817-9665