CanWel Building Materials Group Ltd. has completed the acquisition (the “transaction”) of the Honsador Building Products group of companies for $82.3 million, as the company said in the press release received by Lesprom Network.
The transaction has resulted in Honsador becoming an indirect wholly-owned subsidiary of CanWel and Honsador's operations have been combined with CanWel's well-established and growing North American platform. The transaction was funded through a combination of the proceeds from the Private Placement and CanWel’s existing revolving credit facilities, resulting in CanWel maintaining a constant leverage profile.
Founded in 1935, Honsador is a leading distributor of building products and electrical supplies and the largest producer of pressure-treated wood in Hawaii, with 14 facilities across the Big Island, Maui, Oahu and Kauai serving the residential, commercial and military markets.
