- TRS is a maker and installer of roof trusses, wall and floor panels for the new home construction market
- Argyle believes it is positioned to fill the demand for single- and multi-residential low-rise housing
- President Ed Davis, along with Mike Salo, Vice President and Head of Sales, as well as other senior management team members, will remain at TRS
Argyle Capital Partners in partnership with Canadian family office Celina Capital has acquired TRS Components, a Thorndale, Ontario-based maker and installer of roof trusses, wall and floor panels for the new home construction market. No financial terms were disclosed.
“TRS’s reputation as one of the leading truss manufactures attracted us immediately,” said Glenn Gatcliffe, partner at Argyle. “The entire TRS team is focused on delivering on-time, the highest quality products and services in the industry. Ontario remains in a perpetual housing deficit, and we believe TRS is uniquely positioned to fill the demand for single family and multi-residential low-rise housing. Further, we believe the “panelization” of housing construction will continue to grow and having class-leading facilities located in growth markets is a strong competitive advantage. We look forward to working with Ed and Mike and everyone at TRS as we embark on the next stage of the company’s growth and success.”
Argyle Capital Partners is a Toronto-based private equity firm founded in 2016. It looks to invest in family-owned lower middle-market businesses with a specific focusing on industrial products businesses within service, manufacturing and distribution.
“TRS has been a leading player in roof trusses for over 45 years in Southwestern Ontario,” said Ed Davis, president of TRS. “Over that time, we have grown significantly and now in addition to roof trusses, we manufacture complete packages that include wall panels and floor joists, and provide customers the option of installation of our products. I could not be more excited about the future for TRS and its employees and believe Argyle are the right team to assist us in achieving our goals.”
Celina Capital was established in 2017 to make direct investments in entrepreneurial, growth-orientated companies and to build out a portfolio of diverse real estate assets. In private equity, it looks to invest in businesses with $2 million to $7 million EBITDA within the US and Canada.