August 4, 2011
Red Deer - Westridge Cabinets Ltd. ("Westridge") announced that on June 30, 2011 it had acquired Classic Woodcraft Ltd. ("Classic" or the "Company"), a Saskatchewan- based kitchen cabinet manufacturer.
"We are pleased to welcome Classic into the Westridge family and look forward to building on Classic's continued success. Classic has demonstrated strong growth and a proven history of successfully servicing its customers," said Ron Goss, Chief Executive Officer of Westridge. "The acquisition of Classic will strengthen our position as one of the leading cabinet manufacturers in Western Canada and provide us with a strong foothold in the growing Saskatchewan market.”
"We are excited about working with Westridge to grow our cabinet business. By partnering with Westridge, we will be able to provide our customers with even better service and quality products." commented Andy Theoret, President of Classic Woodcraft.
"Since our investment in Westridge, we have seen the business grow considerably, thanks to the hard work and commitment of its employees. Signal Hill Equity Partners is thrilled about this acquisition and is committed to assisting Westridge in its growth strategy," added James Johnson, Managing Partner of Signal Hill Equity Partners.
Founded in 1995, Classic provides a wide range of cabinetry products to the new home construction and renovation market. The Company services the Saskatchewan market through its showroom located in central Saskatoon and strives for the highest level of quality and service when designing and supplying cabinets for its customers.
About Westridge Cabinets Ltd.
Established in 1983 Westridge Cabinets has grown to become Alberta's largest fully-integrated cabinet manufacturer. With a broad product range and a reputation for delivering a well crafted, quality product Westridge Cabinets has been successful in serving both the new home construction and renovation segments of the market.
Westridge Cabinets' head office and 140,000 sq. ft. manufacturing facility is centrally located and ideally positioned to serve every major market in Alberta and beyond. Westridge Cabinets has showrooms and localized design, service and installation centres in Red Deer, Edmonton, Calgary and Lethbridge. Westridge Cabinets directly employs approximately 300 skilled men and women.
About Signal Hill Equity Partners Inc.
Signal Hill Equity Partners is a Toronto-based private equity firm managed by experienced investors and business operators, focusing on Canadian mid-market companies. The Signal Hill team has completed over 50 transactions across a variety of industries including financial services, specialty distribution, business services and manufacturing businesses. Members of the Signal Hill team have partnered and worked with management teams to build some of the most successful businesses of their kind in Canada and the United States.
For more information contact:
Ron Goss, Chief Executive Officer, Westridge Cabinets Ltd.
James C. Johnson, Managing Partner