Montreal –Deschenes Group Inc. (DGI) announced the acquisition of Powrmatic of Canada.
Powrmatic, a distributor of residential, commercial and industrial supplies to the HVAC, electrical and hearth (chimneys and fireplaces) industries, operates six branches located in Montreal, Toronto, London, Ottawa, Quebec City and Halifax.
“This acquisition fits well with our development and growth strategy across Canada,” stated François, President and CEO of DGI. “With customer experience being a priority for our organization, the addition of this company with a customer-centric entrepreneurial culture will tie in well with our own culture. This will allow Powrmatic and DGI to develop and grow further.”
According to Deschênes, the acquisition will strengthen the company’s electrical presence in the Quebec City area and enable it to enter the market in Montreal. Powrmatic will become DGI’s 13th business unit and will continue to operate as it currently does, under the leadership of Claude Lapierre.
“It is with great pride and enthusiasm that the people at Powrmatic are joining the DGI family, a leader in our industry,” said Claude Lapierre, president of Powrmatic. “A page of history is turning after 75 years with the Stamm family. We believe that DGI, with all of its resources and expertise, will help us continue to grow and reach new heights.”
Marilyn Skony Stamm, president of Stamm International Corp. added: “The Company is a good strategic fit with DGI, bringing with it a talented and experienced group of employees and a customer centric approach built on strong supplier relationships. My objective of finding the right acquirer for the company and all of its employees has been met. This is a wonderful opportunity for them and for Powrmatic.”