Tag - 2023

GNI Management Group Inc. acquires Advanced Insulation Inc.

(Toronto – September 1, 2023) GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is pleased to announce the acquisition of Winnipeg-based Advanced Insulation Inc. (“Advanced”), a leading provider of insulation services focused on the new-home construction and retrofit markets in the Winnipeg region.

“We’re thrilled to establish a partnership with Advanced – the Winnipeg region represented a strategic opportunity for us, and this acquisition will enable us to tap into this expanding market,” stated Bill Maginas, CEO of GNI. “Our partnership with Advanced provides us with the opportunity to bring GNI’s expertise to the Manitoba marketplace while expanding Advanced’s capabilities.”

Evan Lavallee, President of Advanced, expressed his enthusiasm for joining forces with GNI, saying, “We are excited about joining the GNI family. GNI has been a major player in Canada’s construction industry for decades, and their expertise in both the residential and commercial markets will allow us to unlock significant growth.”

Evan Lavallee will continue his role as GNI’s branch manager in the Winnipeg region.

This acquisition marks a pivotal milestone in GNI’s strategic expansion throughout Canada, aligning with its objective to deliver top-tier coverage across the country. The acquisition of Advanced now marks the second time GNI Management Group Inc. has expanded outside of Ontario since its foundation in 1980.

“Our mission is to build safer, more energy efficient and sustainable communities Canada-wide,” emphasized Maginas. “We remain committed to exploring opportunities with companies like Advanced as we actively pursue expansion across Canada and strive to become a prominent national 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
GNI Management Group Inc.

Jeff Murphy
Managing Partner
Ironbridge Equity Partners


Ironbridge Recapitalizes Gesco to Support a New Chapter of Growth and Innovation

(Toronto – June 22, 2023)  Ironbridge Equity Partners (“Ironbridge”) of Toronto, Ontario is pleased to announce its purchase of the assets of the Gesco Group of Companies (“Gesco”) comprising Shnier (Canadian-based national floorcovering distribution company), Division9 (a leading supplier of commercial flooring solutions to the Architect and Design community), and Tierra Sol Ceramic Tile LP (the leading supplier of ceramic tile solutions in Western Canada) commencing an exciting new chapter for the organization.

Ironbridge brings industry expertise and a deep understanding of Gesco’s potential. Notably, Ironbridge previously owned Gesco from 2007 to 2013, marking the organization’s shift to private equity ownership. During this period, the company experienced remarkable growth and was recognized for exemplary customer service, fostering strategic partnerships, and being an employer of choice. The company received numerous business awards in areas such as product innovation, customer service and reliability, employer quality, and environmental leadership. Alan Sellery, President and Managing Partner of Ironbridge commented, “We are really looking forward to our second chapter with Gesco and supporting the experienced team as they return the business to growth and profitability”.

As Gesco embarks on this new phase, its commitment to its core promise of offering a thoughtfully selected product assortment combined with bolstered value-added marketing efforts, and all together delivered through sales and service excellence. The investment in Shnier, Division9, and Tierra Sol positions each company to leverage its unique value proposition and drive sustainable growth that will benefit loyal customers, supply partners, and employees alike.

Shnier, the Canadian-based national floorcovering distribution company, will continue its tradition of staying a step ahead by offering customers coast to coast a diverse range of proprietary and licensed innovative and trendsetting floor and wall covering solutions. Division 9, the commercial operating division, will intensify its efforts to deliver its industry-leading floor and wall-covering portfolio to the Architect and Design community across Canada. Finally, Tierra Sol, the premier boutique ceramic tile distributor in Western Canada, will continue to bring its customers an extensive collection of beautiful products.

With the completion of the acquisition, Gesco is set to embrace a new chapter of growth, innovation, and customer-focused excellence. The organization is confident that its renewed laser focus on product, marketing, and service will reinforce its position as a floorcovering industry market leader in Canada.

Ironbridge is a Canadian private equity firm whose strategy is to make equity and equity-linked investments in high-quality, mid-market, Canadian private companies. Target industries include consumer and business products and services, manufacturing, and distribution. The operating background of the principals enables Ironbridge to be a high-value partner to management teams as they seek to improve and grow their businesses. Ironbridge’s assets under management are over $700 million including its fourth private equity fund, Ironbridge Equity Partners IV, LP, a fully committed $383 million fund raised in November 2021.

Shnier, founded 85 years ago, is the leading Canadian-based national floorcovering distribution company. It designs, sources, merchandises, markets, sells and distributes a vast number of leading licensed and proprietary private label brands, globally sourced and sold to thousands of customers within multiple distribution channels. GESCO’s numerous logistical facilities are strategically located coast to coast within Canada.

Division9 is a subsidiary of Gesco Group of Companies, a leading floor and wall covering distribution company with multiple yet separate operating divisions. Division9 has been delivering industry-leading commercial floor and wall covering solutions across Canada with a team of product experts dedicated to bringing to market the latest styles from around the world that stand the test of time in durability and design.

Tierra Sol Ceramic Tile is a subsidiary of Gesco Group of Companies, a leading floor and wall covering distribution company. Tierra Sol has been offering a vast collection of beautiful tiles to designers, architects, contractors, retailers and end consumers for over 30 years. Tierra Sol is ready to make your tile dreams a reality at any of its locations in Vancouver and Calgary.

For more information, contact:

Alan Sellery
President and Managing Partner
Ironbridge Equity Partners
(416) 863-0101

Kimberly Van Den Hoek
Creative Services Manager, Media Contact
905-789-3755 ext. 2463