GNI Management Group Inc. acquires Moore Insulation Ltd.
(Toronto, March 9, 2022) GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is pleased to announce the acquisition of St Catharine’s based Moore Insulation Ltd. (“Moore”), a regional provider of insulation to the Niagara region’s new-build market.
“We’re very pleased to partner with Moore – Niagara was a gap for us, and this acquisition will allow us to tap into that fast-growing market,” said Bill Maginas, CEO of GNI. “As most of Moore’s focus has been on servicing builders, this partnership will give us access to and deep knowledge of the new home market while allowing us to better service the Niagara region’s retrofit segment which has been GNI’s primary focus historically.”
“We are excited to join GNI,” said Phil Moore, President of Moore. “GNI’s purchasing power for raw materials will alleviate some of our recent challenges in securing product. Not only will the move give us access to GNI’s retrofit business, their size and operations throughout Ontario provide additional capacity to serve our customers even better.”
Phil Moore will continue in his role as GNI’s branch manager in the Niagara region.
The acquisition is a key step in GNI’s strategic expansion across Ontario, helping meet its goal of providing best-in-class coverage across the province.
“This eighth location will allow GNI to continue to grow in Ontario,” said Maginas. “We will continue to look for opportunities with companies like Moore as we look to expand throughout Canada and become a national leader in insulation services.”
The Ironbridge team of thirteen investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.
For more information, contact:
Jeffrey Murphy
Partner
Ironbridge Equity Partners
(416) 863-0107
ironbridgeequity.com
Bill Maginas
CEO
GNI Management Group Inc.
(416) 557-9682
gni.ca