Canadian mid-market private equity firm TriWest Capital Partners has acquired for an undisclosed sum Triple M Housing Ltd, a Lethbridge, Alberta-based manufacturer of factory-built housing, with a particular focus on the modular home market. The deal was done in partnership with the company’s senior management. TriWest said its goal is to support Triple M’s continued growth in both the rural and urban housing and commercial markets. The investment is the second made to date by TriWest Capital Partners Fund IV, which was closed at $350 million in 2012.
TriWest Capital Partners Announces Investment in Triple M Housing
November 21, 2013 – TriWest Capital Partners is pleased to announce that it has acquired Triple M Housing Ltd. (“Triple M”) in partnership with senior management. This investment represents TriWest’s second portfolio company investment in Fund IV.
Established in 1981, Lethbridge based Triple M is a leading manufacturer of factory built housing. Its core products are manufactured homes which can be transported to site as a single unit and modular homes which can be shipped in multiple sections and assembled on site. Triple M is able to deliver an affordable product within a short construction timeline. Working from a state of the art 230,000 square foot climate controlled manufacturing facility in Lethbridge, Triple M offers over 150 residential home designs as well as custom-designed commercial units for use as condominiums, townhouses, hotels, day care facilities, office space and worksite accommodations.
“We are very pleased to partner with management in the acquisition of Triple M” said Senior Managing Director, Cody Church. “Our team is very impressed by the key position Triple M holds in the modular home marketplace in Western Canada, and with the depth of knowledge and expertise of the management team in Lethbridge. Our goal is to support continued growth for Triple M in both the rural and urban housing and commercial markets.”
Triple M Interim CEO, Ron Angyal, commented “I am excited to be a part of this next chapter in the life of Triple M and I see tremendous opportunities for growth under TriWest’s ownership. Our core management team members have average tenure of over 20 years and look forward to continued success servicing our customers in Western Canada.”
Founded in 1998, TriWest is one of Canada’s leading private equity firms. Having raised over $775 million of committed capital, we are entrepreneurial, independent and based in Western Canada.
TriWest Capital Partners
4050, 525 8 Avenue Place SW
Calgary, AB,T2P 1G1
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