PrimeSource Canada, a wholly owned subsidiary of PrimeSource Building Products Inc., agreed to acquire Langtry Industries, an independent distributor of building materials and fasteners.
The deal is expected to be finalized by the middle of this month. Terms of the acquisition were not disclosed. Langtry Industries offers a wide range of fasteners, including its premier fastener brand, Lily Fasteners, to lumberyards, home center chains, retail hardware stores and the industrial supply and OEM manufacturing markets
"The compatibilities that exist between PrimeSource Canada and Langtry Industries in terms of our business models, customers and markets is remarkable,” said Ken Fishbein, Co-CEO of PrimeSource, in a prepared statement. “Although this acquisition will result in the continuation and growth of the Langtry line, an expanded product offering will develop as PrimeSource adds the full line of Grip-Rite products and brand-name building materials to the newly integrated locations across Canada."
With locations in Vancouver, BC; Calgary, AB; Winnipeg, MB; London, ON; Montreal, QC; and Dartmouth, NS, Langtry has in recent years added anchoring systems, brads and staples, collated screws, and rotary hammer drill bits to its product offering. ?
Fishbein said customers of both PrimeSource Canada and Langtry Industries should expect normal business operations to continue through the foreseeable future.