Mill Street & Co has acquired the remaining shares of The Fastway Group, a North York, Ontario-based supplier of building and construction products to the construction, trades and industrial markets.
No financial terms were released.
Mill Street, a Canadian private investment firm, first bought into Fastway in 2016.
Tom Siklos has assumed the role of president and CEO of Fastway. The company’s founder, Geoff Reed, will take on the role of vice president, development, at Mill Street.
Earlier this year, Crown Capital Partners provided a 10-year loan of $10 million to Mill Street.
Mill Street & Co. Acquires Remaining Equity in The Fastway Group
Toronto, October 24, 2018 – Mill Street & Co. (“Mill Street”), is proud to announce that it has acquired the remaining shares of its building supplies company The Fastway Group (“Fastway”), which now becomes a wholly owned subsidiary of Mill Street.
With six locations across Ontario, Fastway is a single source supplier of building and construction supplies to the construction, trades and industrial markets. The group is comprised of operating brands representing a strong history of market leadership and customer loyalty including Parliament Building Supply, Speed Fastening, Sauve’s Lumber, Thorold Lumber, Impact Tools and The Lumber Guys.
“We are excited about the potential for Fastway in the Canadian building supply market,” comments Noah Murad, Mill Street CEO. “The team has a strong foundation from which to build upon, with a strategy that is 100% aligned with evolving customers’ needs and value creation for all stakeholders.”
Tom Siklos has assumed the role of President & CEO of Fastway, while Geoff Reed will be assuming the role of Vice President, Development at Mill Street.
About Mill Street & Co.
Mill Street & Co. is a diversified investment company committed to creating sustainable, longterm growth through the intelligent application and management of capital. Mill Street actively manages its investments with the goal of providing its investors with stable returns exceeding major indices and mutual funds. Mill Street invests primarily by purchasing equity positions in private and public companies. www.millstreetco.com
About The Fastway Group
The Fastway Group is Ontario’s single source supplier of construction, commercial and industrial supplies. Fastway is a value hub to Canada’s trades, industrial, construction and building services companies, delivering a complete assortment of quality materials, equipment and support services to power its customer’s success. www.fastwaygroup.ca
For further information:
Noah Murad, President