GNI Management Group Inc. (“GNI”), an Ironbridge portfolio company, is announcing the acquisition of Saskatoon, Saskatchewan-based Thermal-Tek Insulation (“Thermal-Tek”), a trusted provider of insulation services in Saskatoon and the surrounding areas since 2001.
“Thermal-Tek and its team operate under the same core values of service excellence and performance as GNI, and that dedication to excellence is exactly what we look for in a partner,” said Bill Maginas, CEO of GNI. “This acquisition marks an important step in our Canadian growth strategy and gives us a strong foundation in Saskatchewan’s residential and new construction markets.”
“Joining GNI gives Thermal-Tek access to the resources and expertise that will allow us to serve our customers at an even higher level,” said Dwight Short, Owner of Thermal-Tek. “We’re proud of what we’ve built here, and this partnership will allow us to take our service delivery to the next level.”
Dwight Short will remain in his role as branch manager for Thermal-Tek in the Saskatoon region, and the business will continue to operate as Thermal-Tek Insulation.
This acquisition marks GNI’s eleventh business location and its first in the province of Saskatchewan, reinforcing the company’s mission to help homeowners and builders create safer, more energy-efficient and sustainable communities Canada-wide.
The Ironbridge team of thirteen investment professionals invests in Canadian lower middle-market businesses operating in a broad range of industries including manufacturing, distribution, and consumer and business products and services. Ironbridge has extensive financial and operating experience and works closely with the management of its portfolio companies to enhance value.
