Deschenes Group Inc. makes the acquisition of Powrmatic of Canada
The company further develops its growth across Canada
Montreal – Tuesday, November 3rd, 2020 – Deschenes Group Inc. (“DGI”) proudly announces the acquisition of Powrmatic of Canada (“Powrmatic”) effective November 2nd, 2020.
Powrmatic is a distributor of residential, commercial and industrial supplies to the HVAC, Electrical and Hearth (Chimneys and Fireplaces) industries. It is operating six branches located in Montreal, Toronto, London, Ottawa, Quebec City and Halifax, and is supported by over 100 talented and knowledgeable people.
François Deschênes, President and CEO of DGI stated “This acquisition fits well with our development and growth strategy across Canada. We are very happy to welcome the talented and experienced team of Powrmatic. With customer experience being a priority for our organization, the addition of this company with a customer-centric entrepreneurial culture will tie in well with our own culture. This will allow Powrmatic and DGI to develop and grow further. As the company is already successful, no changes are expected in the short term in its strategy, its operations or the way it does business. We therefore aim for a smooth transition, both internally for new members of our family and externally for its customers and suppliers.”
For DGI, this acquisition of Powrmatic is allowing to enhance its HVAC regional coverage and improve its Chimneys and Fireplaces offering. It will also strengthen its Electrical presence in the Quebec City area and enable to enter the Electrical market in the Montreal area. Finally, this transaction is adding a 2nd branch of DGI in the Atlantic Provinces. Powrmatic will become DGI's 13th business unit and will continue to operate as it currently does, under the leadership of Claude Lapierre and his entire team.
Marilyn Skony Stamm, President of Stamm International Corp. stated “It’s been one year, almost to the day, that François Deschênes and I met in Montréal. Despite speaking with numerous suitors, the meeting with François left little doubt in my mind that I had found in DGI the right successor to the Stamm Family’s 75 year long history with Powrmatic. The Company is a good strategic fit with DGI, bringing with it a talented and experienced group of employees and a customer centric approach built on strong supplier relationships. My objective of finding the right acquirer for the Company and all of its employees has been met. This is a wonderful opportunity for them and for Powrmatic.”
Claude Lapierre, President of Powrmatic added “It is with great pride and enthusiasm that the people at Powrmatic are joining the DGI family, a leader in our industry. A page of history is turning after 75 years with the Stamm family. We believe that DGI, with all of its resources and expertise, will help us continue to grow and reach new heights.”
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 to the plumbing & heating, waterworks, electrical, fire protection, HVAC/R, control & measurement equipment, automation, and auto parts markets. It operates 174 sales points throughout Canada, including 20 plumbing retail stores in Quebec and Ontario, and 12 sales points in the United States. GDI is a member of the marketing/buying groups AD Canada Plumbing & Heating and AD Canada Electrical. Since 2009, DGI is recognized as one of Canada’s Best Managed Companies. For more information: www.deschenesgroup.com.
About Powrmatic of Canada
Powrmatic of Canada, founded in 1945 and owned by Stamm International Corp., is headquartered in Montréal. It is a distributor of residential, commercial and industrial supplies to the HVAC, Electrical and Hearth (Chimneys and Fireplaces) industries. It is operating six branches in the provinces of Nova Scotia, Quebec and Ontario. Powrmatic is a member of the marketing/buying group AD Canada Electrical. For more information, please visit www.powrmatic.ca.
President & CEO
Deschenes Group Inc.
Vice President Finances & Administration
Deschenes Group Inc.
Marilyn Skony Stamm
Stamm International Corp.
Powrmatic du Canada
3901 Jarry Street E, Office 250, Montreal QC H1Z 2G1
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