Montreal based Deschenes Group Inc. has entered into an agreement to acquire Corix Water Products (CWP), a waterworks distributor with 36 locations in Canada and 12 branches in the U.S.
Corix distributes products for waterworks, sewer and irrigation systems with locations from Quebec to the West Coast along with U.S. locations in Washington State, Oregon, California and Texas. As well, under the name of Corix Control Solutions, the company provides measurement and control equipment to the oil, gas, municipal and industrial market sectors in Western Canada in seven locations. The acquisition will add 51 locations to the Deschenes Group network and 650 employees.
“This acquisition is in line with our strategy to further develop our growth throughout Canada,” remarked François Deschênes, president and CEO Deschenes Group. “The geographical fit will be a great complement to where we are currently located. It will also allow us to enter the U.S. market, something we have been considering seriously for several years.
“The entrepreneurial and customer focused culture that we discovered in CWP will be a great fit with our own culture, providing an opportunity to further grow both CWP and DGI together. We strongly believe that a distribution business is built on the quality of its people and the quality of its service. We are privileged to welcome the addition of CWP’s strong and well reputed team”.
For Deschenes, the acquisition will broaden its product and service offerings, enlarge the service area and strengthen the buying power of the company. Ultimately, these factors are of significant importance in helping customers and suppliers achieve greater success, he added.
“Finding a buyer for CWP whose culture was aligned with our own, and who had a similar vision for the future, was extremely important,” said Scott Thomson, Corix president and CEO. “We are confident that DGI is an excellent match and they will support and encourage the growth of the business in the years to come.”
For more information, please visit www.groupedeschenes.com.