(Toronto – September 1, 2020) Mill Street & Co. (“Millstreet”) of Thornhill, Ontario is pleased to announce the acquisition of GNI Management Group Inc. (“Great Northern Insulation” or “GNI”) and partnership with Ironbridge Equity Partners (“Ironbridge”) who have acquired a controlling interest from Mill Street & Co., which will continue to own a minority stake in GNI.
Great Northern Insulation, based in Woodstock, ON, is a leading provider of insulation services in the residential, commercial, industrial, and agricultural sectors. GNI has a complete building offering that includes insulation, air sealing, fireproofing, panel and cladding, building diagnostics and thermography. Founded in 1980, and acquired by Mill Street & Co. in 2016, GNI has grown to eight locations and 300 employees, offering building owners a complete solution to meet their needs for energy efficiency, environmental sustainability, structural durability, and comfort.
“This transaction provides us with a partner that shares in our values and commitment to customers and employees and can add strategic and operational value,” said Noah Murad, President & CEO of Mill Street & Co. “Based on our extensive engagement with Ironbridge over the past several months, we are confident that their support will enable GNI to execute on its strategy and next phase of growth.”