Ironbridge acquires controlling interest in Cendrex

Ironbridge Equity Partners has acquired a controlling interest in Les Industries Cendrex, a maker of standard and made-to-order access doors for the North American residential and non-residential construction market.

Ironbridge Equity Partners has acquired a controlling interest in Les Industries Cendrex, a maker of standard and made-to-order access doors for the North American residential and non-residential construction market. No financial terms were disclosed. The sellers were BDG & Partners and Fonds de solidarité FTQ, which together acquired Montreal-based Cendrex in 2017.

PRESS RELEASE

(Montreal – August 12, 2021) Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce that they, together with management, have acquired a controlling interest in Les Industries Cendrex Inc. (“Cendrex” or the “Company”), from BDG & Partners and Fonds de solidarité FTQ.

Cendrex, based in Montreal, QC, is a leading manufacturer of high-quality standard and made-to-order access doors for the North American residential and non-residential construction market. The Company designs, manufactures, and sells its wide variety of SKUs to building product distributors and retailers. Founded in 1985, Cendrex has grown to 70 employees and has a network of nine distribution centres across North America.

“Cendrex has generated consistent growth over two decades and continues to demonstrate its ability to penetrate new markets while providing exceptional service quality and lead times,” said Peter Samson, Managing Partner at Ironbridge. “We believe that Cendrex is a very attractive business and we are excited to support management through the Company’s next chapter of growth.”

“We have developed a strong platform over the years and look forward to working with the Ironbridge team to further scale and grow the business,” said Francine Pomerleau, President and CEO of Cendrex. “Cendrex is very pleased to bring on board such a strategic and engaged new partner.”

Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $400 million including its third private equity fund, Ironbridge Equity Partners III, LP, a fully-committed $238 million fund raised in April 2016.