CanWel to acquire Grey Mountain's Honsador for $100 mln
CanWel Building Materials Group Ltd (TSX: CWX) has agreed to acquire Honsador Holding LLC, a Kapolei, Hawaii distributor of building products and electrical supplies to residential, commercial and military markets. CanWel agreed to pay about $100 million (US$80 million) in cash for the company. The seller is Grey Mountain Partners, a U.S. private equity firm. Grey Mountain bought Honsador from Cyprium Partners in 2014. Vancouver-based CanWel, a distributor of building materials and related products, said the acquisition effectively doubles its sales in the United States. It plans to fund the deal in part through a $50 million bought deal equity financing.
5 September 2017•8 mins read
