Garaga Inc. announces the acquisition of Novatech Group Inc.
by CM Staff
Novatech has 16 plants and distribution centres in Canada and the United States, as well as an innovation centre for research and development of new products since 2009.
SAINTE-JULIE — Garaga Inc. (Garaga), a North American manufacturer of garage doors, announces the acquisition of Novatech Group Inc. (Novatech), a Canadian company specializing in the manufacturing of entry doors, doorglass, patio doors and tailor-made insulated glass. The closing of the investor financing and purchase transaction is scheduled for May 27, 2024, and remains subject to the fulfillment of certain closing conditions, including final documentation.
Since its foundation by Raymond Ouellette in 1982 in Sainte-Julie, Novatech has grown into a company offering a complete range of products: glass processing, manufacture of doorglass, steel doors and patio doors, PVC extrusion, etc. Novatech has 16 plants and distribution centres in Canada and the United States, as well as an innovation centre for research and development of new products since 2009.
United by shareholding, Garaga Inc., owned by the Gendreau family, and Novatech Group Inc. combine an annual turnover exceeding $1 billion and more than 3,000 employees. “The acquisition of the Novatech Group is a continuation of our family’s entrepreneurial journey. We are now privileged to be the owners of two organizations such as Garaga Inc. and Novatech Group Inc. that are firmly established in their North American markets,” says Maxime Gendreau, Co-President of Garaga. “It is important to specify that both organizations, Garaga, the company founded by our father Michel Gendreau, and Novatech Group will continue to operate completely autonomously,” adds Maxime Gendreau.
“This major transaction between the Gendreau family and Novatech’s founder, Raymond Ouellette, ensures the continuity of Novatech’s Québec ownership, while allowing for a natural transition of ownership for the organization. The Gendreau family’s recognized experience in the development and operation of companies based in Québec, Canada and the United States will allow us to continue growing and maintaining our company culture and values,” says Harold Savard, President of Novatech Group.
Harold Savard, the current president of Novatech, will remain in office and continue to be a shareholder. The company’s management will remain the same. Sharing of best practices and potential synergies will be explored.
