SeaFort Capital has acquired a majority ownership interest in Allmar, with Roynat Equity Partners participating as a co-investor.

Winnipeg-based Allmar, a supplier of door and hardware solutions for commercial, industrial, institutional and residential markets, said its leadership team will retain a significant equity stake in the business. The transaction will not change the company’s leadership or its focus on delivering customer value, project fulfilment and service.

Ron Jonkman, CEO of Allmar, said the partnership will help support the company’s growth plans and accelerate its expansion across Canada.

“SeaFort not only brings Allmar access to growth capital but also provides access to seasoned investment professionals,” he added.

Brad Miles, Allmar’s chief strategy officer, said the deal preserves the company’s Canadian identity and family-business heritage.

Rob Normandeau, managing partner and president of SeaFort, said the investment represents the fifth platform acquisition for SeaFort Capital Fund II.

“Allmar’s leadership team has built a remarkable business that has tremendous growth opportunities across Canada,” he said. “Since its founding in 1957 by Henry Redekopp, Allmar has built a sterling reputation in the architectural-openings industry by providing customers with high-quality products and best-in-class service. We look forward to supporting the business as it continues to grow and develop”.

Stewart McKelvey served as legal advisor to SeaFort Capital, with due diligence support from PricewaterhouseCoopers and Alvarez & Marsal Canada. CIBC acted as lead arranger and sole bookrunner for Allmar’s senior credit facilities, with Bank of Nova Scotia and Bank of Montreal participating in the lending syndicate. Thompson Dorfman Sweatman acted as legal advisor to Allmar.

Halifax-based SeaFort is a private-equity firm that invests in lower-mid-market Canadian businesses with EBITDA between $2 million and $15 million. The firm focuses on long-term partnerships with companies in sectors including business services, equipment service, value-added distribution, specialty manufacturing and health services.

Allmar operates 14 locations across Canada, from British Columbia to Ontario, and employs more than 400 staff, including Door and Hardware Institute-accredited consultants and sales professionals serving the architectural-openings industry. The sector specializes in specializes in the design, manufacturing, and installation of specialized structural components for doors, windows, and safety systems in commercial, industrial, and institutional buildings.

Photo: Allmar