Maibec acquires LP’s CanExel brand and its production facility in Canada
Jun 23, 2020
Maibec acquired the CanExel brand and its production facility located in East River, Nova Scotia. Both the brand and the facility have been owned by LP Building Solutions (LP) for over 20 years. Source: Maibec
The transaction id expected to strengthen Maibec’s reputation as a leader in custom exterior siding systems, aligns well with its expansion strategy to become the manufacturer and supplier of choice for residential and commercial construction and renovation in Canada and the U.S. According to the announcement, CanExel will now be sold under the name Maibec CanExel. “CanExel is a perfect addition to our portfolio. It’s a well-known and proven brand that has been around for over fifty years, and its East River
team is excited to join ours. Together we will develop complementary product lines that will make Maibec CanExel a complete exterior siding system that meets the needs of both existing and new markets.”
Patrick Labonté, Maibec Chief Executive Officer
About LP Building Solutions:
The corporation is a leader in high performance building solutions, the company manufactures uniquely engineered, innovative building products that meet the demands and needs of the building industry. Its extensive product portfolio includes durable and dependable exterior siding and trim systems, engineered wood framing and structural panels for single-family homes, multifamily projects, repair & remodel markets, light commercial facilities and outdoor buildings. The company is a Quebec-based family business in the wood processing sector since 1946. It has a workforce of 700 employees. It is the largest manufacturer of White Cedar shingles in North America, the leading Canadian manufacturer of genuine wood siding, and Canada’s largest bagger of cedar mulch. Its head office is located in Lévis, and its production units are located primarily in St-Pamphile de l’Islet and Saint-Théophile de Beauce.