Brook Restoration acquires Wall-Tech, a Toronto-area contractor specializing in building envelope restoration
By On-Site StaffConstruction
TORONTO—A pair of contractors that focus on the building restoration market in Toronto and several other major Ontario cities are joining forces.
Brook Restoration Ltd. announced July 7 it has agreed to buy Ajax, Ont.-based Wall-Tech Restoration Inc. for an undisclosed price. The deal is expected to add new capabilities at Brook, as well as open new markets.
“This is an extraordinary opportunity to build a unique partnership that offers more than the sum of our individual parts,” Geoff Grist, the company’s chairman, said in a release. “With our combined capabilities, portfolio and customer relationships, we will be very well positioned to offer services on a much wider scale, open in new markets and grow skilled talent that will allow us to realize opportunities that may not have been possible separately.”
As part of the deal, Wall-Tech’s president Ed Welch will take over as the combined firm’s CEO, in charge of day-to-day operations. He said that while the companies operate in the same restoration market, they have not been direct competitors, creating the opportunity for numerous synergies and growth opportunities.
Currently, Brook employs about 250 and has offices in Toronto, Ottawa and Hamilton. It plans to ramp up growth and open new operations in other large cities across the province.