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Deschenes Group Inc. has entered into an agreement to acquire Corix Water Products, a division of Corix Infrastructure Inc. The transaction, subject to regulatory approval and other closing conditions, is expected to be completed January 2018.
CWP distributes products for waterworks, sewer and irrigation systems with 36 Canadian locations, from Québec to British Columbia as well as 12 locations across the US, including Washington, Oregon, California and Texas. Under the name of Corix Control Solutions, the company also 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 DGI network and 650 staff.
”This acquisition is in line with our strategy to further develop our growth throughout Canada,” siad François Deschênes, president and CEO of DGI. ”The geographical fit with CWP will be a great complement to where we are currently located. It will also allow us to enter the US 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.”
The acquisition of CWP is expected to broaden DGI’s product and service offerings, enlarge its service area and strengthen the buying power of the company.
”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, president and CEO of Corix Infrastructure Inc. ”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.”
Deschenes Group Inc., founded in 1940, is a private family-owned company based in Montreal, Quebec. Corix Group of Companies is a leading provider of sustainable utility infrastructure solutions across North America.