Headland Capital Partners has acquired a majority stake in Anenda Systems Inc, a Vancouver-based building products company that does business as AL13 Architectural Systems.
No financial terms were disclosed.
Founded in 2011, AL13 specializes in developing and distributing aluminum cladding systems to the North American real estate development and construction industry.
AL13, which reports an annual growth rate of 40 percent since inception, said the partnership with Headland will support its expansion in key markets.
Headland, a Canadian venture equity firm, invests in lower mid-market companies.
Transaction Announcement: Anenda Systems Inc. has entered into a partnership with Headland Capital Partners Inc.
VANCOUVER, June 4, 2019 /CNW/ – Headland Capital Partners Inc. (Headland) is pleased to announce that on May 21, 2019 it acquired a majority stake in Anenda Systems Inc. (d.b.a. AL13 Architectural Systems).
Keith Borg, SVP Business Development of AL13, said, “With top line sales compounding at an annual growth rate of 40% since we started, AL13 was facing all the typical challenges associated with explosive growth. In addition, the reallocation of cross-border production and cost increases resulting from North American steel and aluminum tariffs made the past year very eventful. We were fortunate to have an experienced partner in Headland that could help us navigate the volatility and continue to see the opportunities for the business. Now with Headland’s involvement, I am excited to see what we achieve as we embark on opportunities to expand in key markets.”
Daniel Meier, AL13 Co-founder, said. “It was no small task getting this transaction completed. It’s an incredible milestone to add a partner that shares our vision for the next stage of the company – which is all about product innovation and leadership in the building cladding market. Over the years we’ve successfully demonstrated the commercial viability of AL13’s products and systems, and now we are focused on execution and delivery to successfully keep up with the rapidly growing market demand.”
About Headland Capital Partners Inc: Headland is one of Canada’s first Venture Equity investors targeting the underserved niche between venture capital and private equity. Headland finds lower-middle market businesses that have commercialized products and a sustainable advantage, nurture them with time, advice and capital, to accelerate their growth. Headquartered in Vancouver and founded in 2018, Headland is a value-add investor that contributes access to capital and proven industry and operational expertise.
About Anenda Systems Inc: Established in 2011, Anenda Systems Inc. (d.b.a AL13 Architectural Systems) is a building products company specializing in the development and distribution of aluminum cladding systems to the North American real estate development and construction industry. The business is centred around product innovation, installation simplicity, and customizable design options that are cut-to-fit on site. In addition, several patents in the United States and Canada provide a sustainable competitive advantage and allow for the distribution of products through long-standing partnerships with an extensive North American dealer network.
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