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CanWel Building Materials Group Ltd. (TSX:CWX), Vancouver, British Columbia, has agreed to acquire Honsador Building Products group of companies from Grey Mountain Partners for $80 million.
Honsador is a distributor of building products and electrical supplies and the largest producer of pressure-treated wood in Hawaii, with 14 facilities across the Big Island, Maui, Oahu and Kauai serving the residential, commercial and military markets. The transaction will result in Honsador becoming an indirect wholly-owned subsidiary of CanWel and will combine Honsador's operations with CanWel's North American platform.