BROMONT, Quebec -- Sergio Lifraine and Alain Messier confirmed that they have completed the acquisition of the assets of Fabritec Ltee, a large manufacturer of kitchen and bathroom cabinets. The transaction was approved by Quebec Superior Court following a call for tenders from Deloitte Restructuring Inc. to dispose of the company’s assets.
The transaction was finalized on November 8 and will ensure the ongoing manufacturing and marketing of the cabinets that have established Fabritec’s reputation for quality going back more than 30 years, as well as for a return to growth. The great majority of employees at the Bromont plant will remain with the company.
“We’re very pleased to announce this acquisition, which is based on plans to restart the plant’s operations,” said Lifraine, president of the new company. “The people here today are part of our vision, and their talent is a valued asset. I wish to commend the collaboration of the employees and of their union representatives. We’re all looking now in the same direction: toward the future.”
Explaining what motivated them to acquire Fabritec’s assets, Lifraine said: “Alain Messier and I have been working successfully in the construction materials industry for more than 25 years. We know the industry, its distribution networks and its customers, and we intend to apply this expertise to the growth of the plant’s activities at a time when the construction and renovation sector is enjoying a period of extraordinary growth.
“Our Bromont plant relies on highly skilled employees who operate an array of high-precision, digitally-controlled machine tools. This is the foundation on which we plan to continue investing so as to succeed in meeting increasingly rigorous customer expectations and to position ourselves as a market leader.”
In 2017, the company planned an expansion. https://www.woodworkingnetwork.com/news/canadian-news/armoires-fabritec-plans-50-million-cabinet-expansion
Lifraine emphasized the support of the parties involved in securing Fabritec’s activities and jobs and in choosing the buyers: Pierre Fitzgibbon, Quebec Minister of Economy and Innovation, and Isabelle Charest, Member of the National Assembly for Brome-Missisquoi and Minister Responsible for Education, as well as Investissement Quebec and National Bank. He also thanked the employees, unions and management, who held the fort during the transition, along with the company’s customers, who continued to show their confidence.
Known as major players among suppliers of construction materials to retailers and superstores in Canada, Lifraine and Messier each have more than 20 years’ experience in this field. The Mono Serra Group (flooring), owned by Lifraine, MURdesign (wall and ceiling coverings), a partnership between Lifraine and Messier, and Fabritec (kitchen and bathroom cabinets) currently employ more than 800 people in various plants, including in Bromont, Alma, Jonquière and Saint-Hyacinthe, with annual revenues of more than $200 million.
Founded in 1983, Fabritec is known as one of North America’s biggest manufacturers of kitchen and bathroom cabinets. Its Bromont plant stands out for its employees’ skills and for its leading edge equipment. Financial problems led the former management team to place the company under court protection in July 2019. Restructuring was entrusted to Deloitte, which oversaw the maintenance of operations until a buyer was found or the assets were sold. See http://fabritec.ca/en/
Have something to say? Share your thoughts with us in the comments below.