Norea Capital (Norea) has become the majority shareholder of Metalunic, a Quebec-based company.
Founded in 2000, Metalunic is a manufacturer of metal cladding (siding and roofing) primarily serving the residential market, as well as the commercial, industrial, and agricultural sectors. Its products are sold mainly in Canada and the United States, where sales have increased significantly in recent years. Metalunic maintains strategic agreements with major distributors across both countries.
“Our ambition, together with Norea, is to double our revenue within the next five years and make Metalunic a North American leader in its field,” said Nicholas Nickoletopoulos, president.
“In Canada alone, the siding market represents a $2.5 billion sales opportunity. With our products designed for easy installation, even by homeowners, requiring minimal maintenance, and offering superior durability, we are very well positioned to gain market share outside Quebec. We intend, with Norea’s support, to be in acquisition mode in the coming years. Both in Canada and the United States, we will seek to expand our local presence in key markets”, added Nickoletopoulos.
“Over the past 10 years, Metalunic has experienced strong organic growth in Quebec,” said Luc Ménard, president and managing partner of Norea. “It has also laid the groundwork for a presence in the United States through the signing of strategic partnerships. Driven by a strong culture of innovation, the company developed the Metalunic Design line, which has achieved significant commercial success. In the context of a housing shortage across North America, we see an opportunity to accelerate the commercial expansion of Metalunic’s products in the multi-residential market.”