Sycamore Partners, a New York City-based private equity firm which in 2023 bought the Canadian operations of Lowe’s Co. (RONA, Réno-Dépôt, and Dick’s Lumber), has bought All-Fab Group, a Winnipeg-based manufacturer of building components with operations that extend from the Pacific Ocean to the American Midwest.
All-Fab was sold to Sycamore and RONA inc. by a Canadian consortium of private equity money—PFM Capital and Roynat Equity Partners. PFM Capital, based in Regina, had purchased All-Fab, along with its partners, in 2018. During their almost seven years of ownership, All-Fab had achieved significant growth under the control of the Canadian PE firms.
All-Fab Building Components was founded in 1970. It manufactures roof systems, wall systems, and floor systems. It manufacturers i-joists, engineered beams, and laminated posts. It also is a major manufacturer of stairs. It has manufacturing facilities in Winnipeg and Brandon, Man.; Regina and Saskatoon, Sask.; Edmonton, Alta.; and Cobble Hill and Creston, B.C. It also has a facility in Winsted, Minn. All-Fab Group has, in total, 18 business units. Terms of the transaction were not disclosed.
Ed Richmond, CEO of All-Fab, said in a release that “PFM and Roynat have been invaluable partners, providing strategic guidance and support to help us scale our operations and improve our product offerings.” PFM acquired a majority interest in our industry’s seventh largest building supply dealer buying group, the Sexton Family of Companies, in December 2022.
