CAI Capital Partners (CAI) has completed the sale of the operating assets of Canadian Heating Products Inc., doing business as Montigo Fireplaces (Montigo), to Empire Comfort Systems (Empire Group). Terms of the transaction were not disclosed.
Founded in 1976, Montigo has grown to be a leading designer and manufacturer of residential and commercial gas fireplaces with two production facilities located in Langley, British Columbia, and Ferndale, Washington. Now part of Empire Group, Montigo will continue to provide hearth products to its network of architects, builders, dealers and distributors.
Pat Bradley, president and CEO at Montigo, said, “It has been a pleasure to work with the CAI team while we collaboratively and successfully navigated one of the most tumultuous business environments in recent memory. The management team and I have appreciated their unwavering support and partnership mindset. We are looking forward to working with Empire Group to continue building the Montigo brand.”
Curtis Johansson, partner at CAI, added, “We are extremely grateful to Pat and the broader Montigo team for their dedication to excellence throughout our partnership. Their relentless drive to build the best business possible has culminated in this new partnership with Empire Group and we are excited to see what they accomplish together.”