Crane SupplyPress Release
Deschenes Group Inc. enters into an agreement to acquire Crane Supply
The company further develops its growth across Canada in the distribution of PVF
Montreal – Tuesday, April 26, 2022 – Deschenes Group Inc. (“DGI”) recently entered into an agreement to acquire Crane Supply, a division of Crane Canada Co. The transaction, subject to regulatory approval and other closing conditions, is expected to be completed in the second or third quarter of 2022.
Crane Supply is Canada's premier distributor of quality pipes, valves, fittings and piping accessories (“PVF”) serving Industrial and Commercial Contractors, Industrial Maintenance, Repair and Operations (MRO), Fabricator, and Engineering Procurement and Construction firms. It has 27 branches with 425 talented people covering the 10 provinces in Canada.
François Deschênes, President and CEO of DGI stated: “This acquisition is in line with our strategy to further develop our growth throughout Canada. The geography and markets covered by Crane Supply will be a great complement to ours. The entrepreneurial and customer-focused culture that we discovered in Crane Supply will be a great fit with our own culture, providing an opportunity to further grow both Crane Supply and DGI together. We strongly believe that a distribution business is built on the quality of its people and the quality of its service. We are privileged to welcome the addition of Crane Supply’s strong and well-reputed team.”
For DGI, this acquisition of Crane Supply will broaden the product and service offerings, enlarge the service area and strengthen relationships with suppliers. Ultimately, these factors are of significant importance in helping customers and suppliers achieve greater success.
Upon closing of the deal, Crane Supply would become the 16th business unit within DGI and continue to operate as it does today, under the leadership of its President Tom Frazer and his entire team.
Tom Frazer, President of Crane Supply stated: “It is with great pride and excitement that Crane Supply is joining DGI. This is an incredible fit, as both our culture and leadership philosophy are very well aligned. We look forward to the opportunities that this will provide to further enhance the value we bring to our customers in the markets we so proudly serve. We are also incredibly excited for our associates, as being an important part of a highly respected and well-established growth oriented wholesale distributors in the Canadian marketplace will provide many opportunities for development and growth.”
Max Mitchell, President & CEO of Crane Co. stated: “For the continued strategic growth of Crane Supply, we have found a fantastic home with DGI, we could not be more pleased, as it is clearly evident that the culture, the focus on the customer and the respect and appreciation for employees was a perfect match.”
Further information will be provided following the completion of the transaction.
About Deschenes Group Inc.
Deschenes Group Inc., founded in 1940, is a private family-owned company based in Montreal. DGI, the largest Canadian-owned company in its sector of activity, is a leading wholesale distributor in three markets: Infrastructures, Building Mechanical, and Electrical, HVAC & Automotive. It has 190 sales points throughout Canada and 12 in the United States. DGI also has 20 plumbing retail stores in Quebec and Ontario. Since 2009, DGI is recognized as one of Canada’s Best Managed Companies.
About Crane Co.
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers across end markets including aerospace, defense, chemical and petrochemical, water and wastewater, payment automation, and banknote security and production, as well as for a wide range of general industrial and consumer applications. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials. For more information, please visit www.craneco.com.
President & CEO
Groupe Deschênes Inc.
Vice President, Finance and Administration
Groupe Deschênes Inc.