Mill Street & Co. through its subsidiary The Fastway Group (Fastway) has acquired Sauve Lumber and Building Supplies Ltd. Financial terms were not disclosed.
Established in 1985, Suave has become the destination of choice for lumber, construction, home and garden materials, tools, and accessories in Timmins, Ontario and surrounding area.
Founded in 1988, Fastway is a privately incorporated company created through the acquisitions of Speed Fastening Systems Inc. and Uxport Tools Inc. Mill Street & Co. acquired The Fastway Group Inc. in September 2016.
Sauve Lumber and Building Supplies is the third add-on acquisition since Mill Street’s investment.
“Sauve adds key geographic reach and product knowledge expertise to the Fastway Group,” states Geoff Reed, Fastway’s President. “With a reputation built around the highest level of quality service and expertise, Sauve’s team will become a significant addition to Fastway as we continue to expand the value we are able to deliver to the construction sector in Ontario.”
“We welcome the addition of Sauve Lumber and Building Supplies to the Fastway Group,” said Noah Murad, Mill Street President. “Sauve reinforces our commitment to servicing the construction needs of the Ontario market through both geographical reach and expertise.”
Mill Street & Co. is a diversified investment company committed to creating sustainable, long-term growth through the intelligent application and management of capital. Mill Street actively manages its investments with the goal of providing its investors with stable returns exceeding major indices and mutual funds. Mill Street invests primarily by purchasing equity positions in private and public companies.
photo credit: Paul Brennan via pixabay