(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:
GNI Management Group Inc.
Ironbridge Equity Partners