2014-02-13 - The Master Group announces the conclusion of an agreement to acquire the assets of Eastern Refrigeration Supply
Boucherville, February 13, 2014 - The Master Group L.P.is very proud to announce the signing of an agreement for the acquisition of all assets of the distribution component of Eastern Refrigeration Supply Co. Ltd. This transaction, which will take effect on March 31, includes the workforce of the Ontario distributors’ headquarters, distribution centre and Markham branch.
« The completion of this acquisition, which began with 3 branches of Eastern Refrigeration in 2011, represents an important step supporting the Master Group’s strategy to become a national leader in the HVAC-R industry. It allows us to reach a critical point in our progression into new geographic territories and opens new avenues towards a national platform» says Michel Ringuet, Chief Executive Officer, The Master Group. « Above all, the addition of this distribution centre based in the heart of the Greater Toronto Area allows us to better serve our existing customers and to progress into the Western part of the country. Furthermore, it allows to free up resources and capacity of the Boucherville distribution centre for our expansion projects in Eastern Canada, from Quebec to the Atlantic Provinces. The Master Group intends to implement several projects during the year, including the opening of a new branch in Mississauga this spring. »
All Eastern employees will stay in place and The Master Group wishes them a warm welcome into the team. In addition, Doug Merkel will also remain in position and his role will be to facilitate the transition and ensure liaison with customers and suppliers. Mr. George Merkel and David Merkel will ensure the continuity of Eastern whose activities are now focused on redistribution operations to wholesalers, distributors and manufacturers.
Contact information for the office, distribution centre and branch in Markham are:
49 Riviera Drive, Markham, Ontario, L3R 5J6
About Eastern Refrigeration Supply Co. Ltd
Family business based in Markham, Ontario, since 1963, Eastern Refrigeration Supply has earned its reputation particularly in the refrigeration sector. The company, still operating under the name of Eastern Refrigeration will continue its activities in the specific field of redistribution to wholesalers, distributors and manufacturers at a new location to be announced in March 2014.
About The Master Group
Leader in the air conditioning, refrigeration and heating sectors for 60 years, and recognized as one of Canada’s Best Managed Companies since 2010; The Master Group is the largest independent distributor in Eastern Canada. The company now employs over 560 dynamic and devoted individuals who serve the industry in over 21 branches and 3 distribution centres spanning from Southwestern Ontario to the Maritimes.
Source: Nathalie Lajoie
Director, Communications & Marketing