PE Deals

Argyle-backed TRS Components merges with Terra Nova Truss

Terra Nova Truss is a Kingston, Ontario-based specialist in pre-engineered floor and roof trusses.

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  • Based in Thorndale, Ontario, TRS is a manufacturer and installer of roof trusses and related wood products for the residential and commercial construction industry
  • The combined entity will create a truss business with four manufacturing facilities capable of supplying customers from Windsor to Ottawa, in addition to Michigan
  • Argyle and TRS partnered in the deal with Celina Capital Corp

TRS Components, a portfolio company of Argyle Capital Partners, and Terra Nova Truss (TNT), a Kingston, Ontario-based specialist in pre-engineered floor and roof trusses, have merged.

The transaction was completed in April. No financial terms were disclosed. Argyle and TRS partnered in the deal with Celina Capital Corp, a Canadian family office.

Based in Thorndale, Ontario, TRS is a manufacturer and installer of roof trusses and related wood products for the residential and commercial construction industry. Argyle acquired the company in July 2022.

The combined entity will create a truss business with four manufacturing facilities capable of supplying customers from Windsor to Ottawa, in addition to Michigan. TRS and TNT will continue to operate independently and maintain their brands and market positioning.

Mark Fox, president of TNT, and the senior management team and employees will remain at company. Fox will continue as a shareholder of the combined entity.

Glenn Gatcliffe, a partner at Argyle, said in a statement, “The combination of these two businesses could not have come at a more optimum time. The housing shortage in Ontario will continue unabated. TRS and TNT are leaders in their respective markets and there are significant opportunities for both teams to learn and grow as we integrate. We will draw on best practices from each operation, cross selling to customers in different geographies, increasing our buying power and lowering costs with our suppliers and searching for ways to grow collectively.”

Argyle Capital Partners is a Toronto-based private equity firm focused on partnering with family-owned businesses in the lower mid-market. It targets old economy, industrial products businesses within service, manufacturing and distribution.