TRS Components and Terra Nova Truss join in merger of equals
by CM staff
Argyle and TRS partnered once again with Celina Capital Corporation, a family office based in Toronto, on the transaction.
THORNDALE and KINGSTON — TRS Components Inc. (TRS), a portfolio company of Argyle Capital Partners and Terra Nova Truss (TNT) announced a merger of equals. The transaction closed on April 1.
The combined entity will create a truss company in Ontario and Canada with four manufacturing facilities capable of supplying customers from Windsor to Ottawa, in addition to Michigan. Argyle entered the truss industry through partnering with TRS in July 2022.
With over 55 employees, TNT supplies its products and services out of two locations in Kingston and Brockville, Ontario.
Given the distinct geographies and locations of TRS (Southwestern Ontario and Michigan) and TNT (Eastern Ontario) the two businesses will continue to operate independently and maintain their brands and market positioning, while benefiting jointly from combined operating scale and scope.
“I believe the future of TNT could not be brighter,” said Mark Fox, President, TNT. “By joining forces with TRS we are going to be uniquely positioned to grow. I look forward to working with both the TRS and Argyle teams to make TNT even stronger than it is today.”
Along with Fox, all of the senior management team and employees will be remaining at TNT and Fox will continue as a shareholder of the combined entity. Fox is also the current President of The Canadian Wood Truss Association.
“TNT has been a mainstay in the truss industry for over 30 years. We have respected and known of Mark’s reputation and could not be more excited to have the opportunity to work together with everyone at TNT in growing our businesses across Ontario,” said Ed Davis, President, TRS.
Argyle and TRS partnered once again with Celina Capital Corporation, a family office based in Toronto, on the transaction.
