The Fastway Group, a subsidiary of Mill Street & Co, has acquired Sauve Lumber and Building Supplies Ltd, a Timmins, Ontario provider of lumber, construction, home and garden materials, tools and accessories. No financial terms were disclosed. Fastway, which operates in the same industry, said the deal adds to its geographic reach and product knowledge. Mill Street, a Canadian private investment firm, invested in Fastway last year. The company was created through acquisitions of Toronto’s Speed Fastening Systems Inc and Port Perry, Ontario’s Uxport Tools Inc.
The Fastway Group Acquires Sauve Lumber and Building Supplies LTD.
Toronto, May 11, 2017 – Mill Street & Co. (“Mill Street”), is proud to announce, its subsidiary, The Fastway Group (Fastway) has completed the acquisition of Sauve Lumber and Building Supplies LTD. (“Sauve”). Established in 1985, Suave has become the destination of choice for lumber, construction, home and garden materials, tools, and accessories in Timmins, Ontario and surrounding area.
“Sauve adds key geographic reach and product knowledge expertise to the Fastway Group,” states Geoff Reed, Fastway’s President. “With a reputation built around the highest level of quality service and expertise, Sauve’s team will become a significant addition to Fastway as we continue to expand the value we are able to deliver to the construction sector in Ontario.”
“We welcome the addition of Sauve Lumber and Building Supplies to the Fastway Group,” says Mill Street President, Noah Murad. “Sauve reinforces our commitment to servicing the construction needs of the Ontario market through both geographical reach and expertise.”
About Mill Street & Co.
Mill Street & Co. is a diversified investment company committed to creating sustainable, long-term 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
For further information:
Noah Murad, President
Photo courtesy of Reuters/Rick Wilking