Sonepar Canada has entered into an agreement to acquire MGM Electric Limited, a leading, full line electrical distributor in Thunder Bay and Northwestern Ontario. The acquisition is scheduled to be completed by April 1st, 2014.
“MGM Electric is a great addition to our Northern Ontario footprint, outlining many synergies with our current businesses,” says Francois Anquetil, President and Managing Director of Sonepar Canada. MGM Electric has been in business for over 25 years, becoming a leading full line electrical supply and lighting wholesaler in Thunder Bay and Northwestern Ontario.
MGM Electric will join Sonepar Canada’s Ontario division, consisting of Dixon, Gescan, Osso, Sesco and Texcan. The existing MGM executive management team will remain with Tere McDonald as President, Doug Chadwick as Vice President of Sales, and Ed Fukushima will become an external consultant providing continued leadership to the business.
The total value of building permits issued by Canadian municipalities increased 7.4% to $8.7 billion in December. Increases were reported in five provinces, led by Ontario (+10.5% to $3.4 billion) and Quebec (+15.8% to $2.2 billion). For 2019 overall, municipalities issued $102.4 billion worth of permits, up 2.6% compared with 2018.
By Blake Marchand
