CPE News (4.18.2024) – Groupe Pro-Fab inc., a portfolio company of Kairos Capital Management L.P., has acquired a majority stake Thermo Structures Inc., operating as Timber Block.
Led by founder Michel Mathon, Mascouche, Québec based Timber Block brand and is recognized for its patented engineered wall and structure system, offering homeowners across North America cutting-edge, environmentally responsible technology and cost-effective building methods.
Saint-Apollinaire, Québec based Pro-Fab has been a leading engineering modular and structural building manufacturer for over 35 years. It is renowned for its ability to address today’s housing crisis by providing a wide range of solutions to the market. In 2023, the company launched its first community housing rental offering to create housing accessibility for all Canadians. The company now operates four manufacturing plants, twelve business centers, and over 400 employees in North America.
Kairos Capital Management II fund acquired Group Pro-Fab in 2021.
photo credit: Timber Block
News Release
Kairos Capital Management L.P. provides investment capital to Group Pro-Fab Inc. to acquire a majority position of Timber Block
MONTRÉAL, April 18, 2024 /CNW/ – Kairos Capital announces that its portfolio company, Group Pro-Fab Inc., an established leader in engineered modular and structural building solutions, has strengthened its market dominance thanks to acquiring the majority shares of Thermo Structures Inc. The company operates under the Timber Block brand and is recognized for its patented engineered wall and structure system, offering homeowners across North America cutting-edge, environmentally responsible technology and cost-effective building methods.
Since 2022, Kairos has strengthened its Property Hub strategy, creating substantial growth with its multi-faceted approach to providing sustainable and efficient housing solutions. In the past year, Kairos funded the start-up of the structural building plant Structure Heritage Inc., and it expanded its offering of multi-unit solutions to address the housing shortage. Additionally, as part of the Timber Block acquisition, it provided the financial means to purchase the assets of Comfort Design Inc., a well-established regional modular building company and Construction Germat Inc., a seasoned on-site builder.
“We are proud to announce this milestone in the evolution of our Property Hub strategy, as it strengthens our commitment to value creation across our organization, celebrating over 35 years of operations,” said Martin Roy, CEO of Group Pro-Fab. “We are excited to team up with Timber Block founder Michel Mathon, as he will continue to reinforce our organization for continued growth throughout North America.”
“Timber Block was eager to join the Property Hub initiative,” said Michel Mathon, CEO and Founder of Timber Block homes. “Our companies share a common vision of providing homeowners with various innovative housing solutions to meet today’s changing housing market. Furthermore, we believe this partnership will accelerate Timber Blocks’ growth across all markets, especially in the U.S.A., where we can expand our activities from our current North Carolina office”.
Kairos Capital has invested in housing and building markets for the last five years. It is actively seeking acquisition candidates to ramp up its activities and enhance value creation in the industry.
About Group Pro-Fab
Pro-Fab has been a leading engineering modular and structural building manufacturer for over 35 years. It is renowned for its ability to address today’s housing crisis by providing a wide range of solutions to the market. In 2023, the company launched its first community housing rental offering to create housing accessibility for all Canadians. The company now operates four manufacturing plants, twelve business centers, and over 400 employees in North America. www.profab.ca
About Timber Block
Timber Block designs and manufactures a revolutionary patented building system. It builds on decades of experience and delivers panelized custom homes coast to coast in North America. Recognized in the industry as one of the best offsite engineered building systems, Timber Block has won numerous awards, including Builder of the Year and the NAHB Global Innovation Award. Timber Block contributes to a greener, more environmentally conscious world using sustainably sourced wood and Greengard Gold-certified insulation. www.timberblock.com
About Kairos Capital Management L.P.
Kairos is a Montreal-based private equity fund that provides long-term financial, strategic, and business resources to promising Canadian lower to mid-market companies. Established in 2020, the fund has completed a dozen investments and gained significant engineering experience in the telecommunication and building manufacturing sector. Kairos is an ideal partner for forward- thinking companies and entrepreneurial management teams seeking growth capital to accelerate their long-term objectives. www.kairoscap.ca
SOURCE Kairos Capital L.P.
For further information: Contact patrick@kairoscap.ca