Canada's Atis Group Plans IPO
Following up on two recent acquisitions, the Atis Group is now planning to go public. One of Canada's largest window and door manufacturers, the Montreal-based company recently filed a preliminary prospectus with Canadian and provincial regulatory authorities for a proposed initial public offering of its common shares.
Starting from a Quebec base that included Laflamme Portes & Fenetres, Melco and Solarcan, the Atis Group began its expansion several years ago adding Allied Windows and Phoenix Glass in British Columbia and Bestway in Alberta. This year, it has added Allsco Building Products in the Maritimes and Vinylbilt in Ontario.
According to an article in the Toronto Globe & Mail, Atis is looking to raise $120 million (Cdn), with most of the money to be used building the company.
A Window & Door Top 100 manufacturer, the Atis Group is backed by Key Principal Partners, a Cleveland-based private equity group. It now includes 11 manufacturing facilities located in Québec, Ontario, British Columbia and New Brunswick and employs more than 1,600 employees across Canada.