November 3, 2020 By Anthony Capkun
November 3, 2020 – Montreal-based Deschenes Group Inc. has acquired Powrmatic of Canada, a distributor of residential, commercial and industrial supplies to the electrical, HVAC, and chimneys and fireplaces industries, with locations in Montreal, Toronto, London, Ont., Ottawa, Quebec City, and Halifax.
“This acquisition fits well with our development and growth strategy across Canada. We are very happy to welcome the talented and experienced team of Powrmatic,” said François Deschênes, president and CEO of Deschenes Group. “As the company is already successful, no changes are expected in the short term in its strategy, its operations or the way it does business. We therefore aim for a smooth transition, both internally for new members of our family, and externally for its customers and suppliers.”
Deschenes Group says this acquisition enhances its HVAC regional coverage and improves its chimneys and fireplaces offering, while also strengthening its electrical presence in the Quebec City area and enabling it to enter the electrical market in the Montreal area.
This transaction also adds a second Deschenes branch to the Atlantic Provinces.
“It’s been one year, almost to the day, that François Deschênes and I met in Montreal. Despite speaking with numerous suitors, the meeting with François left little doubt in my mind that I had found in [Deschenes Group] the right successor to the Stamm family’s 75-year long history with Powrmatic,” said Marilyn Skony Stamm, president of Stamm International Corp. (corporate owner of Powrmatic). “My objective of finding the right acquirer for the company and all of its employees has been met.”
Powrmatic becomes Deschenes’ 13th business unit, and will continue to operate as it currently does, under the leadership of president Claude Lapierre and his team.
“A page of history is turning after 75 years with the Stamm family,” said Lapierre. “We believe that [Deschenes Group], with all of its resources and expertise, will help us continue to grow and reach new heights.”
Founded in 1940, Deschenes Group Inc. is a private family-owned wholesale distributor to the plumbing & heating, waterworks, electrical, fire protection, HVAC/R, control & measurement equipment, automation, and auto parts markets.
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