Surrey, British Columbia
Speyside Equity Fund I LP announces the acquisition of Shanahan’s Holdings Ltd. (“Shanahan’s”) which is headquartered in Surrey, British Columbia. The transaction was completed on March 21, 2017.
Shanahan’s is the largest distributor, manufacturer, and installer of hardware, hollow-metal doors and construction specialty products in Canada. The Company is also the exclusive Canadian distributor of ABUS security products and other third-party hardware, industrial/wood doors, and washroom accessories through its Hardware Agencies and Serrubec brands. Shanahan’s has been serving the Division 8 and 10 building products market since the 1960’s and has grown to include production and sales facilities in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec.
Jeffrey Stone, Managing Director for Speyside, commented: “Shanahan’s has a prominent reputation across Canada with its commercial, industrial, institutional and locksmith customers. Speyside will be investing in the business to maintain and further that legacy.”
About Speyside Equity
Formed in 2005, Speyside Equity employs an operationally intensive approach to investing in industrial, specialty chemicals, and food ingredients businesses. Speyside targets companies with a history of strong revenue, a defensible position in their respective markets, and a core group of managers that can move the business forward. Speyside prefers situations where there are opportunities to leverage its operating expertise to improve financial performance and create sustainable long-term value.
Since its formation, Speyside has successfully executed numerous platform investments and add-on acquisitions using its own capital. The team made its first investment in Sweet Ovations, a food ingredient company, in 2005 and had its first exit in 2010 when it sold Stahl Specialty Company. This principal-driven investment philosophy and approach has continued in its $130 million institutional fund closed in January 2016, Speyside Equity Fund I LP.
Jeffrey A. Stone