- Armoires Cuisines Action is the largest manufacturer of custom cabinets in Quebec
- The Nad Van Gennip family, founders and majority owners for the past 33 years, will remain shareholders
- The investment will support the company’s next phase of growth
An investor group led by Champlain Financial Corp, including Fondaction, has acquired Armoires Cuisines Action, the largest manufacturer of custom cabinets in Quebec. No financial terms were disclosed.
The company, based in St-Sabine, Quebec, designs, makes and installs customer kitchen cabinets, bathroom vanities, laundry rooms and other custom residential storage.
“From the very beginning until recently, Armoires Cuisines Action has successfully implemented its dazzling development plan through comprehensive services and high-quality products offered to its customers,” said Guy Grégoire president of Armoires Cuisines Action. “We are very pleased with this new corporate partnership, which will propel the company into a growth dynamic commensurate with its ambitions in the coming years.”
The Nad Van Gennip family, founders and majority owners for the past 33 years, will remain shareholders and will continue in their leadership roles.
“We were impressed by the strong track record of Armoires Cuisines Action and its management team,” said Scott Jackson, partner at Champlain Financial Corp. “From its humble beginnings, ACA has grown to become a leader in the Quebec renovation industry, and we are proud to partner with this remarkable company and accompany it in its next phase of growth.”
Champlain is a Canadian private equity firm based in Montreal. It looks to invest in and grow small and medium-sized businesses in Canada and the United States. Target opportunities with EBITDA ranging between $3 million and $10 million are principally found in the consumer, retail, distribution, healthcare and niche manufacturing sectors.
Fondaction is a Quebec labour-sponsored investment fund headquartered in Montreal. It has $3.1 billion of net assets and $2 billion in venture and development capital.