Miller Johnson Represents AccessSMT in Acquisition of CP Distributors Ltd.
The Transaction
Announced on October 11, 2024, AccessSMT has acquired CP Distributors Ltd. AccessSMT is formerly known as Shanahan’s Limited Partnership and McGregor & Thompson Hardware Ltd., and is a portfolio company of Speyside Equity Fund I LP (Speyside). Speyside purchased both Shanahan’s Limited Partnership and McGregor & Thompson Hardware in 2017 and became one company, one brand: AccessSMT in 2019.
AccessSMT and CP Distributors are leaders in the North American door, hardware and specialties industry. The new combination generates approximately 250 million CAD in revenue per year uniquely positioning it with the scale to deliver on the largest and most complex projects.
Mike Barnes, CEO of AccessSMT, said, “We are excited to join forces with Scott Suppes and the CP Distributors Team. This transaction positions us as the largest door, hardware and specialty supplier in Canada with operations and an aggressive growth strategy in the US.”
Jeffrey Stone, Managing Director for Speyside, commented, “Mike has been a great leader at AccessSMT and Speyside is proud to support the ambitions of his team. The customers yearn for a partner that can execute the most complex projects with consistency and this deal is the culmination of actions by Mike to provide that solution.”
Miller Johnson acted as legal advisor to AccessSMT in the transaction. Miller Johnson’s team included Dustin Daniels (M&A), Michael Penny (M&A), Marcus Hoekstra (M&A), Alex Kaminski (M&A), and Jeff Osment (M&A).
AccessSMT
(accesssmt.com) In August of 2018, it was decided that McGregor & Thompson and Shanahan’s would join together as one company. Over the next year, the two companies would streamline operations, combine product offerings and merge talent in all areas of the business. With a combined 140 years of industry experience, the unified brand solidifies the company’s position as a leader in three divisions.
CP Distributors Ltd.
(cpdist.ca) CP Distributors Ltd. was incorporated in 1962 in Saskatoon, Saskatchewan as a small construction specialty distributor, supplying specialty building products to the construction industry. In 1972, Ken Suppes and Martin Scobie purchased CP Distributors and over the years expanded the business to more fully serve customers in the commercial, healthcare, institutional, hospitality, multi-family and industrial sectors. In 2004, management and ownership was transferred to Scott Suppes, Kevin Suppes, and Gerald Haller. Today CP Distributors continues to build on both the old and the new leadership commitment to quality in products and service.
Miller Johnson’s Mergers and Acquisitions Group
Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals and to navigate the challenges that can arise in mergers, acquisitions, dispositions and other business combination or investment transactions.
Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. At The M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards, our attorneys are consistently involved in deals honored as winners and finalists. For further information, please contact Dustin Daniels at (616) 831-1737.