Business
Atlas Engineered Products Announces Acquisition of Truss-Worthy Construction Systems Inc. in Ontario, Canada
Atlas Engineered Products Announces Acquisition of Truss-Worthy Construction Systems Inc. in Onta...
About this update from Atlas Engineered Products Ltd.
[{"type":"text","content":"\n\n\n\n Atlas Engineered Products Announces Acquisition of Truss-Worthy Construction Systems Inc. in Ontario, Canada\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n NANAIMO, BC\n \n\n ,\n \n\n June 2, 2025\n \n\n /CNW/ - Atlas Engineered Products (\"AEP\" or the \"Company\") (TSXV: AEP) (OTC Markets: APEUF) announced today that the Company has completed the acquisition of Truss-Worthy Construction Systems Inc. (\"Truss-Worthy\") located in\n \n Colborne, Ontario, Canada\n \n . Truss-Worthy is a manufacturer of roof trusses and a supplier of engineered wood products (\"EWP\").\n \n\n \"I am excited to announce the acquisition of our 9\n \n th\n \n manufacturing facility, especially with the strategic positioning it brings in combination with the 42 acres we purchased in\n \n December 2024\n \n . This acquisition links another piece to our national footprint with coverage on the Eastern side of\n \n Toronto\n \n ,\" said Hadi Abassi, CEO, President and Founder of the Company. \"Truss-Worthy fits nicely into our overall, long term strategic plan and we are excited to have this location join the AEP group of companies. The Company is also still anticipating closing an acquisition in\n \n Western Canada\n \n and will maintain a disciplined approach to acquiring new manufacturing facilities that fit our long-term goals.\"\n \n\n The acquisition of Truss-Worthy was completed effective\n \n May 30\n \n\n th\n \n , 2025.  To acquire all the issued and outstanding shares of Truss-Worthy, the Company paid a purchase price of\n \n $1.575 million\n \n with a working capital adjustment to be determined and finalized within 90 days of closing date of the SPA.   Additionally, the Company is acquiring the land and buildings from the current landlord on which Truss-Worthy's facilities are located for a purchase price of\n \n $850,000\n \n . The purchase price for the business operations and the land and building was paid for with cash.\n \n\n Unaudited fiscal year ended\n \n January 31, 2025\n \n , Truss-Worthy generated just ...