White Owl Family Office has acquired and recapitalized Olon Industries, a Georgetown, Ontario designer and maker of woodworking components for the North American furniture and cabinet-making industries. No financial terms were disclosed for the deal, which was done in partnership with Olon’s executive team. The team is led by President and CEO Don Hambly. Founded in 1981, Olon has completed two add-on acquisitions since 2007, when it received an investment from U.S. private equity firm Huron Capital Partners. Based in Toronto, White Owl invests in mid-market companies on behalf of the McArthur and Carrick families.
Olon Ownership Transition Complete
White Owl Family Office Ltd and Olon Executive Team partner in acquisition
Georgetown, ON. March 3rd, 2017 – White Owl Family Office Ltd. together with the executive team of Olon are pleased to announce that they have successfully partnered to complete the acquisition of Olon Industries (www.olon.com). The ownership change and associated recapitalization demonstrate strong support for Olon’s growth plan while creating the financial stability to support future investments.
“White Owl was impressed with Olon’s strong management team and the exciting future for the 5 piece door products and the continued success of all its other products. We see a great potential for the 5 piece door product as it continues to gain market share and acceptance throughout the USA. We also believe the Olon companies and its employees represent a valuable investment for us and we look forward to working with Olon management and visiting all of the facilities and employees” said Barrie Brayford, Chief Operating Officer, White Owl Family Investment Holdings Ltd., the investment company of The Miller and McAsphalt Industries Limited www.mcasphalt.com
“We are very impressed with White Owl’s investment philosophy and entrepreneurial spirit which we feel is an excellent fit for Olon. We are confident that this partnership will bring prosperity and success of Olon and our partners”, said Don Hambly, President & CEO of Olon.
About White Owl Family Office:
White Owl is a private Canadian investment company controlled by the McArthur and Carrick families, for the purpose of diversifying wealth through strategic financial investments and by assisting strong management teams. The founding Families have purchased over 70 companies by starting with a blank page and customizing solutions that benefit all parties. White Owl takes takes a long term approach with many investments held for over 25 years.
About Olon Industries:
Olon designs and manufactures an extensive range of innovative, integrated woodworking components for the North American furniture and cabinet-making industries. From its 6 strategically located plants, Olon offers products ranging from profile wrapped moldings to solid and wrapped drawer components, edge treatments and decorative laminates. More information: www.olon.com
Jennifer Rapagna, Sales & Marketing Coordinator
Olon Industries, 42 Armstrong Avenue, Georgetown, ON L7G 4R9
Photo courtesy of The Olon Group Inc