BOUCHERVILLE, Quebec - RONA Inc., the largest Canadian distributor and retailer of hardware, renovation and gardening products, has signed an agreement to acquire, through its subsidiary Noble, the assets of Don Park Limited Partnership in Canada. Specialized in the distribution and manufacturing of HVAC products, Don Park operates 14 branches and one distribution center as well as three manufacturing facilities in Ontario. Founded in 1972, the business has been owned since 2005 by TerraVest Income Fund, a diversified trust. The transaction has been finalized pending certain conditions, including regulatory approvals, and is expected to close by the end of December 2010.
“We’re very pleased with this acquisition as it provides strong growth potential in the plumbing and HVAC market in Ontario and opens up many development opportunities in other regions of Canada. The acquisition also gives us instant market share gain in the HVAC segment shortly after having expanded Noble’s operations into this area. This transaction is exactly in line with our plan to establish a national platform in the commercial and professional market by becoming a leader in specific segments of this market,” said Michael Storfer, vice president of RONA’s Commercial and Professional Market division.
“The customer base is highly complementary and will enable us to rapidly leverage the infrastructure and sales force of both organizations. The transaction also provides important organic growth potential for both plumbing and HVAC operations by opening new markets for both. The consolidation of plumbing and HVAC product lines allows us to offer a much deeper breadth of products to our diversified industrial, commercial, institutional and professional customers,” added Storfer.
Don Park President and CEO, Peter Olierook, said, “Our customers know they will still be able to count on our employees’ know-how to get the same top-quality service they’re used to. And we know that joining ranks with RONA will give our employees access to great development opportunities and a stimulating work environment. We’re very enthusiastic about being part of a major company like RONA as it will give the opportunities for Don Park to have the resources to accelerate its development in both distribution and manufacturing of HVAC and related products.”
For more information, visit rona.ca.
Nov. 9, 2010: RONA to Acquire Canadian HVAC Distributor/Manufacturer
November 9, 2010