Two Ontario manufacturers, TRS Components and Terra Nova Truss (TNT) have joined forces in a merger of equals which was closed in April. The merger occurred in an effort to expand both the company’s outreach and success across Ontario.
The combination of both entities will allow for the creation of one of the leading roof truss businesses in the province and across Canada entirely. TRS Components and Terra Nova Truss will continue to operate independently and focus on the prosperity of their individual companies. However, they are expected to benefit significantly from the merger because of the combined operating scale and scope. Thorndale, Ontario’s TRS Components, and Kingston, Ontario’s TNT intend to supply customers from the Windsor to Ottawa area as well as Michigan.
“By joining forces with TRS we are going to be uniquely positioned to grow,” TNT founder and president, Mark Fox said. “I look forward to working with both the TRS and Argyle teams to make TNT even stronger than it is today.” TNT was founded in 1991 and swiftly became a leader in the residential, commercial, and agricultural markets for producing roof and floor trusses.
Merger Presents an Opportunity for Growth
The company has four complete manufacturing lines, retains over 55 employees, and supplies its products out of its two facilities in Kingston and Brockville, Ontario. “I believe the future of TNT could not be brighter. By joining forces with TRS we are going to be uniquely positioned to grow. I look forward to working with both the TRS and Argyle teams to make TNT even stronger than it is today,” noted Fox.
TRS Components has over 36 years of experience in building components for a network of commercial and residential suppliers. Just last year, they became a portfolio business for the Toronto-based private equity firm Argyle Capital Partners. Argyle manufacturers install trusses and other wood products at their Thorndale plant.“TNT has been a mainstay in the truss industry for over 30 years,” noted Ed Davis, president of TRS. “We have respected and known of Mark’s reputation and could not be more excited to have the opportunity to work together with everyone at TNT in growing our businesses across Ontario.”
“The combination of these two businesses could not have come at a more optimum time. The housing shortage in Ontario will continue unabated. TRS and TNT are leaders in their respective markets and there are significant opportunities for both teams to learn and grow as we integrate. We will draw on best practices from each operation, cross selling to customers in different geographies, increasing our buying power and lowering costs with our suppliers and searching for ways to grow collectively,” explained Argle partner, Glenn Gatcliffe.