Atlas Engineered Products (AEP) announced the completion of due diligence for the acquisition of a truss manufacturing company in Western Canada. The deal is expected to close in early Spring 2025, marking a significant expansion in the company’s national presence.
CEO Hadi Abassi highlighted the importance of the acquisition, noting the company’s strong merger and acquisition pipeline and continued focus on growth. "Now is the time to move forward with strategic acquisitions that expand our reach into new locations as we grow our national footprint,” Abassi said. In addition to acquisitions, AEP has expanded its sales team to enhance its presence in the U.S. market.
The proposed $3.8 million transaction will include a mix of cash, stock, and financing. The truss company generated average revenues of over $11 million in the last three years, with a net income of $950,000 and adjusted EBITDA of $1.15 million. AEP plans to lease the land and facilities while determining the best financing strategy for the deal. The acquisition remains subject to TSX Venture Exchange approval and other conditions.
