Atlas Engineered Products Announces Acquisition of Truss-Worthy Construction Systems Inc. in Ontario, Canada

Atlas Engineered Products (“AEP” or the “Company”) announced that the Company has completed the acquisition of Truss-Worthy Construction Systems Inc. (“Truss-Worthy”) located in Colborne, Ontario, Canada. Truss-Worthy is a manufacturer of roof trusses and a supplier of engineered wood products (“EWP”).

“I am excited to announce the acquisition of our 9^th manufacturing facility, especially with the strategic positioning it brings in combination with the 42 acres we purchased in December 2024. This acquisition links another piece to our national footprint with coverage on the Eastern side of Toronto,” said Hadi Abassi, CEO, President and Founder of the Company. “Truss-Worthy fits nicely into our overall, long term strategic plan and we are excited to have this location join the AEP group of companies. The Company is also still anticipating closing an acquisition in Western Canada and will maintain a disciplined approach to acquiring new manufacturing facilities that fit our long-term goals.”

The acquisition of Truss-Worthy was completed effective May 30^th, 2025.  To acquire all the issued and outstanding shares of Truss-Worthy, the Company paid a purchase price of $1.575 million with a working capital adjustment to be determined and finalized within 90 days of closing date of the SPA.   Additionally, the Company is acquiring the land and buildings from the current landlord on which Truss-Worthy’s facilities are located for a purchase price of $850,000. The purchase price for the business operations and the land and building was paid for with cash.

Unaudited fiscal year ended January 31, 2025, Truss-Worthy generated just over $2 million in revenues, net income of over $300,000 and non-IFRS measure normalized EBITDA of approximately $355,000 (see “Non-GAAP/Non-IFRS Financial Measures”). The three-year average non-IFRS measure normalized EBITDA was approximately $730,000, resulting in a 2.16x EBITDA for the business operations, excluding the land and buildings. Moving forward, the Company anticipates being able to bring its considerable operating synergies and material buying power to Truss-Worthy’s operations as well as the significant expansion possibilities.

This acquisition is a small location but aligns with the Company’s strategic acquisition plan and links the Company’s geographical footprint with the purchase of 42 acres at 281 Purdy Road in Colborne, Ontario announced in December 2024. This strategic acquisition allows the Company to develop the market and gain customer relationships in the area ahead of further potential development at the 42-acre property. Development of the 42-acre property will greatly expand the geographical reach of the Company in the surrounding area, provinces, and the United States.

About Atlas Engineered Products Ltd.

AEP is a growth company that is acquiring and operating profitable, well-established operations in Canada’s truss and engineered products industry. We have a well-defined and disciplined acquisition and operating growth strategy enabling us to scale aggressively and apply new technologies, giving us a unique opportunity to consolidate a fragmented industry of independent operators.

Contact:

Jake Bouma – Representative for AEP – (604) 317-3936 – jake.bouma@atlasaep.ca

Source: Atlas Engineered Products Ltd.