Capstone Headwaters advised Powrmatic of Canada Ltd. (“Powrmatic”), a portfolio company of Stamm International Corporation (“Stamm”), on its sale to Deschenes Group Inc. (“DGI”).
Powrmatic of Canada, founded in 1945 and owned by Stamm International Corp., is headquartered in Montreal, Quebec, Canada. It is a distributor of residential, commercial and industrial supplies to the HVACR, Electrical, and Hearth (Chimneys and Fireplaces) industries. It operates six branches in the Canadian provinces of Nova Scotia, Quebec and Ontario. Powrmatic is a member of the marketing / buying group AD Canada Electrical.
This represents the 3rd HVACR client Capstone successfully advised during 2020 as the industry demonstrated remarkable resilience in the face of the COVID-19 pandemic and ranks among the leading sub-sectors within Industrials for M&A activity.
Claude Lapierre, President of Powrmatic, commented
“It is with great pride and enthusiasm that the people at Powrmatic are joining the DGI family, a leader in our industry. 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.”
David Bench, Capstone’s Managing Director, reports
“Powrmatic represents a very strategic add-on for DGI on many fronts - complementary product line, office locations, management, and company culture - and Capstone is excited for the future of this business combination.” Managing Director Ted Polk adds, “The synergistic potential for bringing two such well-run enterprises together is quite high.”
François Deschênes, President and CEO of DGI, stated
“This acquisition fits well with our development and growth strategy across Canada. We are very happy to welcome the talented and experienced team of Powrmatic. 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. As the company is already successful, no changes are expected in the short term in its strategy, its operations or the way it does business. We therefore aim for a smooth transition, both internally for new members of our family and externally for its customers and suppliers.”