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The Naples-based Hoffmann Family of Cos., in its third acquisition announced this month, has acquired majority ownership of CDN Controls, a Western Canada-based company that specializes in electrical and instrumentation maintenance for a wide variety of clients in the power generation industry.
Financial terms of the deal for CDN Controls, which also handles automation, communication and renewable/solar services for clients, wasn’t disclosed. CDN, according to a statement, has 10 branches across two Western Canada provinces, employs over 700 professionals and manages an expansive fabrication facility.
The Hoffmann Family of Cos, with a portfolio of companies from vineyards to a luxury fleet business, plans to provide CDN Controls with access to capital and new market opportunities, the release states. That includes targeting the U.S. market, say company officials, under the name CAVIS Energy Corp. Canadian operations will remain under the name CDN.
"Hoffmann Family’s decision to purchase CDN was rooted in the alignment of values, culture and business acumen,” Geoff Hoffmann, co-CEO of HFOC, says in the release. “We see our role as a catalyst for CDN's continued growth rather than an agent of change, preserving CDN's strategic and daily operational autonomy.”
Several CDN officials will remain with the company. The executive team will consist of CEO and founder Dean Fraser; COO and founder Nick Stewart; CFO David Gillett; and Chief People & Corporate Services Officer Susan Borrows.
"When we started CDN in 2011, we wanted to create an industry dominator — a business fueled by performance and anchored by strong core values,” Fraser and Stewart say in the release. “An investment from the Hoffmann Family of Companies will allow our business to seize newer and bigger opportunities. On the horizon are significant opportunities to put our services to good use in the global energy transition — specifically massive improvements and innovations to global energy infrastructure.”
Other businesses Hoffmann acquired in March include Gladstone, Michigan-based Besse Forest Products Group and Doonan Specialized Trailer, a custom semitrailer manufacturer based in Great Bend, Kansas.
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