PE-Backed Shanahan’s Acquires Two Wholesalers


Shanahan’s LP, a manufacturer and supplier of specialty building products, announced its acquisition of Hardware Agencies Ltd. of Toronto and Serrubec Inc. of Montréal, both of which are focused on wholesale distribution of security hardware. The new business will be based in Edmonton, Alberta. Shanahan’s has since 2007 been backed by Canadian private equity firms Banyan Capital Partners and Yellow Point Equity Partners.

PRESS RELEASE

Shanahan’s Acquires Hardware Agencies Limited and Serrubec Inc.

Sunday, December 02, 2012

Shanahan’s Limited Partnership is pleased to announce the merger of its business operations with Hardware Agencies Limited and Serrubec Inc.

Established in 1928, Shanahan’s is a Western Canadian based supplier of division 8 and division 10 products serving the commercial, institutional, industrial and multi-family residential construction and building industry. Shanahan’s has 530 staff and operates 10 branches in British Columbia, Alberta, Saskatchewan and Manitoba along with manufacturing operations in Calgary, Alberta and its subsidiary Krause & Scheelar Inc. based in Seattle, Washington.

Hardware Agencies Limited based in Toronto, Ontario and Serrubec Inc. based in Montreal, Quebec are wholesale distributors of security hardware serving the commercial locksmith, industrial, commercial and retail channels across Canada.

The new business will be based in Edmonton, Alberta. The company will continue to operate all businesses under their current brands and trade names without notable change to operations and will continue to rely on the existing regional leadership in place in all current branches and markets.

Shanahan’s, Hardware Agencies and Serrubec are thrilled with the potential of this merger. With significant size and scale, along with the expanded geographic footprint and broad product offering, the new company is uniquely positioned on a national scale to service the growing demands for security hardware and other building products.

http://www.shanahans.com
http://www.hardwareagencies.com
http://www.serrubec.com

Photo courtesy of Shutterstock.

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