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Osprey Capital Partners Inc. is announcing today that it assisted Moulure Alexandria Moulding Inc. in completing a partnership and recapitalization with Industrial Opportunity Partners.
The Client:
Alexandria is a manufacturer and distributor of wood mouldings and related millwork products for the Canadian and Northern U.S. residential housing markets. The Company sells directly to retailers as well as to wholesale building product distributors and industrial customers.
The Company is headquartered in Alexandria, Ontario, Canada and has a manufacturing and distribution facility in Alexandria along with a hardwood manufacturing operation in Bradford, Ontario. The Company also has a manufacturing and distribution facility in Moxee, Washington as well as two other distribution facilities in Wilkes Barre, Pennsylvania and La Porte, Indiana.
The Ask:
Osprey Capital was engaged by Alexandria to find a partner and investor that could bring additional resources, experience and expertise to enable them to capitalize on the unprecedented opportunities within the marketplace.
The Result:
IOP is partnering with the Cholette Family to re-capitalize the business to help the transition from the 3rd generation and to support future growth. Andre Cholette, President & CEO, and the rest of the Alexandria Sr. management team, all of whom will have ownership interests, will remain in their current management roles to continue to grow the business. Dave Mackin, an IOP Operating Principal, will assume the position of Chairman.
As Mr. Cholette explains, “Osprey were true professionals from start to finish. They took us through a systematic process, backed with a wealth of experience, to help find the best possible partner. This process was about making the company stronger and poised for growth; Osprey helped us achieve exactly that.”
“The shareholders and management team have built a great business, one that will continue to grow and be successful with IOP as a new partner. We are happy to have helped them along the way.” said Stephen Jakob, Co-Founder and Partner of Osprey Capital.
Osprey Capital represented the shareholders of Alexandria. Wells Fargo and Scotiabank provided financing, and McDermott, Will & Emery provided legal representation to IOP.
