Pinacle

Montreal, Quebec – Tuesday, November 26, 2024 – Deschenes Group Inc. is proud to announce the signing of an agreement to acquire PinAcle Stainless Steel Inc. The transaction, subject to regulatory approval and other closing conditions, is expected to be completed in the first quarter of 2025.

PinAcle is a premier Canadian distributor of quality stainless steel pipes and fittings serving Industrial and General Contractors, Pulp and Paper, Mining, Shipbuilding, Chemicals and Automotive industries. PinAcle provides service from six locations across Canada and employs over 130 people.

“This transaction will position our company as a solid player in the stainless steel pipe and fitting distribution business.’’ said Deschenes Group Inc. President and CEO François Deschênes. “PinAcle has a strong reputation and is perceived in many markets as a leader in what they do. We are very pleased that PinAcle joins our group of companies and privileged to welcome its talented team, bringing a solid knowledge of the stainless steel market, and strong technical expertise. The PinAcle Stainless Steel Inc. name will remain unchanged.”

Upon closing, PinAcle will become the 17th business unit of Deschenes Group Inc. and will continue to operate as it does today under the leadership of John Gough and Marc Hébert. For Deschenes Group Inc., the acquisition of PinAcle will broaden its scope of product offerings, with the added advantage of relying on a leader in the stainless steel pipe and fittings supplies arena.

“After a 37-year legacy, we are thrilled to have Deschenes Group Inc. support our company as we continue to evolve in the future. Given their strong credentials, it is the ideal company to lead in the development and growth of PinAcle moving forward’’ said Vice President and Co-owner , Marc Hebert

About Deschenes Group Inc.

Deschenes Group Inc., founded in 1940, is a private family-owned company based in Montreal, Quebec. Deschenes Group Inc., the largest Canadian-owned company in its sector of activity, is a leading wholesale distributor in three markets: Infrastructure, Building Mechanical, and Electrical, HVAC & Automotive. It operates from over 200 locations across Canada, including around 20 plumbing retail stores in Quebec and Ontario , and has 13 locations in the United States. Since 2009, it has consistently been recognized as one of Canada’s Best Managed Companies. For more information: www.groupedeschenes.com

About PinAcle Stainless Steel Inc.

PinAcle Stainless Steel Inc., founded in 1987 in St. Laurent, Quebec, is a supplier of quality stainless steel and alloy steel plumbing supplies, and fluid handling products. Operating out of it’s six key strategically positioned locations in Canada, PinAcle hosts the largest inventory of stainless steel industrial plumbing supplies and fluid handling products across Canada. For more information: www.PinAcle.ca