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Canadian family owned business announces the acquisition of Novatech

The Gendreau family, Canadian owners of Garaga Inc., a North American manufacturer of garage doors, announces the acquisition of Novatech Group Inc.  The closing of the investor financing and purchase transaction is scheduled for May 27, 2024, and remains subject to the fulfillment of certain closing conditions, including final documentation.

Since its foundation by Raymond Ouellette in 1982 in Sainte-Julie, Novatech has grown into a company offering a complete range of products, including glass processing, manufacture of door glass, steel doors and patio doors. Novatech has 16 plants and distribution centre in Canada and the United States, as well as an innovation centre for research and development of new products since 2009.

“The acquisition of the Novatech Group is a continuation of our family’s entrepreneurial journey. We are now privileged to be the owners of two organizations such as Garaga Inc. and Novatech Group Inc., that are firmly established in their North American markets,” says Maxime Gendreau, co-president of Garaga. “It is important to specify that both organizations, Garaga, the company founded by our father Michel Gendreau, and Novatech Group will continue to operate completely autonomously,” says Gendreau.

“This major transaction between the Gendreau family and Novatech’s founder, Raymond Ouellette, ensures the continuity of Novatech’s Quebec ownership, while allowing for a natural transition of ownership for the organization. The Gendreau family’s recognized experience in the development and operation of companies based in Quebec and the United States will allow us to continue growing and maintaining our company culture and values,” says Harold Savard, president of Novatech.

This transaction is very attractive from a commercial standpoint, thanks to each company’s seasoned executive and specialized plant teams, respective 40-year histories and the great complementarity between their respective operations.

Harold Savard, the current president of Novatech, will remain in office and continue to be a shareholder. The company’s management will remain the same. Sharing of best practices and potential synergies will be explored.