TRIWEST CAPITAL PARTNERS ANNOUNCES SALE OF TRIPLE M HOUSING
Calgary, Alberta (January 18, 2023) — TriWest Capital Partners (“TriWest”) today announced that it has sold Triple M Housing Ltd. (“Triple M” or the “Company”), a leading provider of manufactured and modular homes, to ATCO Structures & Logistics.
Since 1981, Triple M has led the factory-built housing industry in innovation, customization, and satisfaction, while simultaneously maintaining its distinctly Canadian core. Through the Company’s proprietary building systems, state-of-the-art production facility, and award-winning design teams, Triple M ensures its customers’ expectations are met on time, within an affordable budget. Triple M also continues to lead the housing sector with a focus on reducing its environmental impact. Through green initiatives, including the Built Green program, Energy Star participation, and in-house recycling systems, Triple M can reduce expected waste by over 60% compared to traditional construction methods. Through deliberate and steady growth, Triple M is proud to remain Canadian owned and operated.
“Triple M management and employees have been great partners with TriWest over our ownership period. We wish Triple M well as they begin a new chapter to their growth under ATCO’s leadership by continuing to deliver quality housing products to their valued dealers and homeowners.” said Norm Rokosh, Senior Managing Director, TriWest. “Our investment in Triple M was very much aligned with our strategy of partnering with highly successful businesses in Western Canada being led by strong and committed management teams. We are fortunate to have participated in the growth that Triple M has generated over the past nine years.” added Chad Danard, Senior Managing Director, TriWest.
Rick Weste, President & CEO of Triple M, commented, “Triple M is committed to providing Western Canadians with best-in-quality homes at a competitive price. The management team thanks TriWest for their partnership and support over the years, beginning with our transition from foreign ownership in 2013. We are now very excited to join the ATCO family and continue our Alberta-based legacy.”
Stout Capital, LLC acted as TriWest’s financial adviser. Legal advice was provided by Bennett Jones LLP and tax services were provided by Ernst & Young.
About TriWest Capital Partners
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms, having raised over C$1.4 billion in committed capital through six funds. TriWest has successfully invested in 47 companies across a broad cross-section of the economy in partnership with their management teams. We work closely with our management partners, together proactively putting in place a strategy that maximizes growth potential and value creation by emphasizing operational excellence, prudent governance and an efficient capital structure. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. For more information: www.triwest.ca
About Triple M Housing
Established in 1981, Triple M is the largest manufacturer of modular residential homes in Western Canada. With more than 300 highly trained production employees and an experienced management team, Triple M constructs residential homes and associated products from its purpose-built, climate-controlled, manufacturing facility in Lethbridge, Alberta. The company boasts an extensive dealer network which delivers Triple M products to the residential housing market across Western Canada.
Triple M was a TriWest Fund IV portfolio company.
For more information:
TriWest Capital Partners
Chief Operating Officer
Tel: (403) 817-9665