Window and door maker Energi Fenestration sold to three Canadian firms
The buyers are Ontario-based Vision Group of Companies and Quebec-based Novatech Group and Thermoplast Extrusions.
In a deal that involves Canadian plastics pioneer Vic De Zen, Los Angeles-based private equity firm OpenGate Capital has sold Energi Fenestration Solutions Ltd., a maker of rigid and cellular vinyl window and patio door profiles, to three Canadian companies, each of which are acquiring various portions of the business.
The financial terms of the deals have not been disclosed.
One of the buyers is Woodbridge, Ont.-based Vision Group of Companies, which makes PVC and fibreglass columns, vinyl fences, PVC railing, patio doors, basement windows, and custom profiles. “The integration will be complete within the coming months and we will be able to maximize our manufacturing, purchasing, and human resources,” Vision Group chairman and CEO De Zen said in a May 18 statement.
Energi was formerly a division of Axiall Corp.’s Royal Building Products portfolio, which was part of De Zen’s old Royal Plastics Group business, so the deal returns ownership of Energi to one of its predecessors. When OpenGate acquired Energi through a corporate carve-out from Axiall Corp. in 2016, it rebranded the business and transformed it into a wholly independent, standalone entity.
A second buyer is Sainte-Julie, Que.-based Novatech Group, which acquired Energi Terrebone Patio Doors, which operates out of Terrebone, Que. In a statement, Novatech officials said the company plans to make “significant investments in the coming months” at the Terrebone facility. “Effective immediately, the current Novatech sales force will be responsible for patio door sales out of Terrebonne,” the statement said. “The customer service team in Terrebonne will remain in place for all inquiries and orders.”
Third, Energi’s extrusion plant in Laval, Que. has been sold to a group of former Energi executives, who have now started up a new company in Laval called Thermoplast Extrusions. “The transaction is effective immediately and…the entire team remains in place,” the group said in a statement.