The Gendreau family, Canadian owners of Garaga Inc., a North American manufacturer of garage doors, announced the acquisition of Novatech Group Inc., a Canadian company specializing in the manufacture of entry doors, door glass, patio doors and tailor-made insulated glass.
About the companies and the acquisition
United by shareholding, Garaga and Novatech combine an annual turnover exceeding $1 billion and more than 3,000 employees.
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 door glass, steel doors and patio doors; PVC extrusion; etc. Novatech has 16 plants and distribution centers in Canada and the United States, as well as an innovation center for research and development of new products since 2009.
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.
What the company leaders say
“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, 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."
“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, Novatech Group.
