CPE News (11.8.2023) – Founders East Capital Partners has acquired Alumitech Architectural Glass and Metal Ltd. Financial terms were not disclosed.
Founded in 1991 by Norsat Eblaghi, Halifax, Nova Scotia based Alumitech is an industry leader in building envelope solutions with reputation for designing and installing custom engineered curtain walls, architectural windows, skylights, store fronts, doors, metal cladding, and custom fabricated architectural glass.
Halifax based Founders East is an investment firm that invests in lower-mid-market businesses based in Atlantic Canada or with meaningful ties to the region.
photo credit: Alumitech
News Release
Founders East Capital Partners Announces Investment in Alumitech Architectural Glass and Metal
HALIFAX, NS, Nov. 8, 2023 /CNW/ – Founders East Capital Partners (“Founders East”) is pleased to announce the successful acquisition of Alumitech Architectural Glass and Metal (“Alumitech” or the “Company”), an industry leader in building envelope solutions. Founded in 1991 by Norsat Eblaghi, Alumitech has earned an excellent reputation for designing and installing custom engineered curtain walls, architectural windows, skylights, store fronts, doors, metal cladding, and custom fabricated architectural glass.
This acquisition marks a significant milestone in Alumitech’s history, as Norsat Eblaghi partners with Founders East to guide the Company through its next chapter of growth. Norsat, who has led Alumitech for over three decades, has thoughtfully and proactively addressed the challenges that many business owners face, including the transition of ownership and leadership of his business.
It was important to Norsat to find ownership partners who would not only respect and uphold his legacy but also keep the entire Alumitech team in place. Norsat sought partners who understand and respect the importance and value of Alumitech’s long-term supplier and customer relationships.
Norsat will continue to be an owner and a director of Alumitech, ensuring his continued involvement in the Company’s future. Together with Founders East, Norsat will play a crucial role in selecting and mentoring Alumitech’s next President. An executive search for a new President will commence in the coming weeks.
About Founders East Capital Partners
Based in Halifax, NS, Founders East is an investment firm that invests in lower-mid-market businesses based in Atlantic Canada or with meaningful ties to the region. Founders East has flexible structures, no set time horizon, and works collaboratively with business owners and their families to ensure their legacies not only continue, but thrive.
This is Founders East’s third platform investment since its inception in November 2021.
SOURCE Founders East Capital Partners
For further information: Michael Crouse, mike@founderseast.com