Maibec officially acquires the CanExel brand and its production facility located in East River, Nova Scotia, Canada. Both the brand and the facility have been owned by LP Building Solutions for over 20 years. CanExel will now be sold under the name Maibec CanExel.

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Maibec acquires CanExel

Maibec acquires CanExel

Maibec officially acquires the CanExel brand and production facility in East River, Nova Scotia, Canada. Both the brand and the facility have been owned by LP Building Solutions (LP) for over 20 years. CanExel will now be sold under the name Maibec CanExel.

“CanExel is a perfect addition to our portfolio, said Maibec CEO Patrick Labonté. “It’s a well-known and proven brand that has been around for over fifty years, and its East River team is excited to join ours. Together we will develop complementary product lines that will make Maibec CanExel a complete exterior siding system that meets the needs of both existing and new markets.”

Maibec and LP announced the joint agreement for Maibec’s acquisition of LP’s East River facility and CanExel brand in February. The deal is part of LP’s Siding business’ strategy to focus exclusively on supporting demand for its strand-based siding products, including the recent launch of LP® SmartSide® ExpertFinish®, its new line of prefinished strand-based siding.