M&A Deal Summary

Exchange Income Acquires Spartan Mat

On November 7, 2024, Exchange Income acquired building materials company Spartan Mat for 120M USD

Acquisition Highlights
  • This is Exchange Income’s 3rd transaction in the Building Materials sector.
  • This is Exchange Income’s 2nd largest (disclosed) transaction.
  • This is Exchange Income’s 6th transaction in the United States.
  • This is Exchange Income’s 3rd transaction in Florida.

M&A Deal Summary
Date 2024-11-07
Target Spartan Mat
Sector Building Materials
Buyer(s) Exchange Income
Deal Type Add-on Acquisition
Deal Value 120M USD

Target

Spartan Mat

Rockledge, Florida, United States
Spartan Mat is a manufacturer and marketer of the system7tm and system7-xttm industrial composite access mat and the proprietary fods trackout control system, as well as a broker of wood and composite mats across the united states. Spartan Mat is based in Rockledge, Florida.

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Buyer(S) 1

Buyer

Exchange Income

Winnipeg, Manitoba, Canada
Category Company
Founded 2002
Sector Diversified
Employees4,340
Revenue 2.5B CAD (2023)
DESCRIPTION

Exchange Income is a diversified acquisition-oriented company, focused in three sectors: aviation services and equipment, metal manufacturing, and infrastructure services. The Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters and Regional One. The Manufacturing segment consists of the operations by Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, and Stainless Fabrication. The Infrastructure segment consists of the operation of WesTower Communications (Canada). Exchange Income was founded in 2002 and is based in Winnipeg, Canada.

DEAL STATS #
Overall 19 of 19
Sector (Building Materials) 3 of 3
Type (Add-on Acquisition) 19 of 19
State (Florida) 3 of 3
Country (United States) 6 of 6
Year (2024) 2 of 2
Size (of disclosed) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-24 Duhamel

St-Ignace-de-Stanbridge, Quebec, Canada

Duhamel owns and operates a sawmill operation that manufactures products for customers in Quebec, Ontario, and Atlantic Canada. It primarily focuses on the manufacturing and sale of eastern hemlock products. The company operates on approximately 40 acres of owned land includes its lumber yard and sawmill. Duhamel was formed in 1965 and is based in St-Ignace-de-Stanbridge, Quebec.

Buy $19M
Mergr

Product

Company

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