GNI Management Group Inc. acquires McPherson Products

(Toronto – April 1, 2024) GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is happy to announce the acquisition of St. Cloud, Minnesota based McPherson Products (“McPherson”), a leading provider of insulation services for St. Cloud and the surrounding lake region.

“Partnering with McPherson made sense for GNI strategically – we targeted the St. Cloud region to tap into its resilient custom new-home market,” said Bill Maginas, CEO of GNI. “Our partnership with McPherson allows us to bring GNI’s expertise to the Minnesota marketplace while strengthening McPherson’s capabilities.”

“GNI’s expertise in the residential market and advanced operating systems will enable us to serve our customers even better and lead to significant growth,” said Dennis Dufner, Owner of McPherson.

Dennis Dufner will remain in his role as branch manager, for GNI, in the St. Cloud region and the business will continue to operate as McPherson Products.

This acquisition marks a pivotal milestone in GNI’s strategic expansion into the United States, aligning with its goal to deliver top-tier coverage across North America. The acquisition of McPherson marks the first time GNI Management Group Inc. has expanded outside of Canada since its foundation in 1980.

“While McPherson now serves as our tenth location, it is our first location in the United States,” emphasized Maginas. “We remain committed to exploring opportunities with companies like McPherson as we actively pursue expansion into the United States and strive to become a prominent North American leader in insulation services.”

The Ironbridge team of fourteen 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:

Bill Maginas
CEO
GNI Management Group Inc.
bmaginas@gni.ca
gni.ca

Jeff Murphy
Managing Partner
Ironbridge Equity Partners
ironbridgeequity.com