Trusscore, an Ontario material science company that makes alternatives to drywall and other construction components, has acquired Calgary-based Westech Building Products.
Westech, which makes high-performing building materials, was acquired from parent company Westlake Chemical Corporation, headquartered in Houston, Tex.
“With this acquisition, we are creating a premier material science company that’s positioned for growth across residential, commercial, and agriculture industries,” Trusscore CEO and founder Dave Caputo said in a statement released today.
Caputo, a serial entrepreneur who is also Chair of Communitech’s board of directors, took the wraps off Trusscore in early 2020 just as the COVID-19 pandemic was getting under way. A donation of protective temporary wall panels to hospitals to help prevent spread of the coronavirus thrust the company into the national spotlight at that time, when Prime Minister Justin Trudeau cited Caputo during a daily update on the pandemic.
Like Trusscore, Westech makes a range of PVC-based products, including a popular dock and deck system. Trusscore said the new products will complement and expand its product line and its focus on innovation and research and development, activities that are based in the Communitech Hub in Waterloo Region.
Trusscore already has manufacturing facilities in Dayton, Ohio and Palmerston, Ont., where it is officially headquartered. The Westech facility in Calgary will be rebranded under the Trusscore banner.
“Our new presence in western Canada will deliver an array of opportunities for us in our quest to scale,” said Caputo. “Not only do we expand our product line and customer reach, we gain additional manufacturing horsepower and distribution capability, which aligns with our commitment to deliver unparalleled service to our customers.”
Trusscore now has 187 employees, an increase of 98 from a year ago, reflecting accelerated recent sales growth and market acceptance of its products.
Last September, it announced a partnership with HGTV home renovations stars Bryan and Sarah Baeumler, and in May of 2020, the company raised CDN$5.33-million of seed financing.
“I’m delighted to welcome our new team members and partners to Trusscore,” Caputo said in today’s statement. “I have no doubt they’ll blend seamlessly and that together we can engineer the future of the building materials industry.”
Financial details of the acquisition were not disclosed.
