On Wednesday, QIP Equipment Ltd. of Montreal announced it has been acquired by Wolseley Industrial Canada. QIP is a wholesale distributor of manual and actuated valves, fittings, control products, and instrumentation products. Wolseley Industrial gains QIP’s three locations – one each in the provinces of New Brunswick, Ontario and Quebec, as well as 29 QIP employees. The acquisition was originally announced on June 10.
According to QIP, its team will report to Don Ziesman, general manager, Wolseley Industrial. Henry Hulshof, integration manager, Wolseley Industrial, will assist with the transition. QIP’s President, Cosmo Pace, will retire from the business, but will remain for a short time to coach and mentor staff, and assist with the transition. Key management members from QIP will remain to continue to run the operations.
"We are excited to have the team at QIP join us at Wolseley Canada," said Bryn Murray, vice-president of Wolseley Industrial. "The employees at QIP have been instrumental in establishing QIP as a top-tier industrial wholesaler, and we’re looking forward to having them provide that same level of value, customer service and dedication to Wolseley. In addition, the acquisition of QIP strengthens our business in three key provinces, adding products, capabilities, and an experienced team."
Wolseley Industrial is the Canadian Branch of Wolseley – No. 1 on Industrial Distribution's 2014 Big 50 List.
The purchase of QIP enables Wolseley Industrial to expand its offerings and customer base in three strategic geographic regions, and allows Wolseley to provide greater service to companies requiring industrial products and expertise in these areas.
In other news, Wolseley Industrial Canada sold its Engineered Pipe Group (EPG) to Emco Corporation in July. With the purchase, Emco acquires Wolseley Industrial’s high-density polyethylene pipe, fittings and flanges, and fabricated vessels business, and welcomes all EPG employees. Wolseley retains the remainder of its industrial business, which includes industrial valves, specific application valves, valve actuation, and pipe, flange and fitting products.