C$880 million acquisition will enhance Saint-Gobain’s position in light and sustainable construction in Canada

MALVERN, Pa.–(BUSINESS WIRE)–Saint-Gobain, through its building materials subsidiary CertainTeed Canada, today announced its intent to acquire The Bailey Group of Companies (Bailey), a leading Canadian manufacturer of commercial metal framing and building systems. The complementary addition of Bailey’s existing line of high-quality metal framing products in Canada will broaden Saint-Gobain’s global offering in the category, and further enhance the company’s position as a worldwide leader in light and sustainable construction. As part of the pending acquisition, Saint-Gobain will also complete the purchase of the remaining equity and assets of its decade-long ceiling grid manufacturing joint venture with Bailey, The Grid Company. In addition, when approved, the acquisition will include all divisions of The Bailey Group — Bailey Metal Products, Bailey Metal Processing, and Agway Metals.

With approximately 690 employees working across twelve manufacturing sites throughout Canada, the acquisition of Bailey will reinforce Saint-Gobain’s commitment to growth in the country, adding more than C$500 million in revenues in Canada, where the CertainTeed brand is an established provider of building materials. Along with the recent acquisitions of Kaycan and GCP in 2022, and Building Products of Canada in 2023, this acquisition will strengthen the company’s building materials portfolio and further Saint-Gobain Canada’s vision to offer a comprehensive portfolio of building systems and solutions, both internal and external, to its customers.

“As a strategic partner in The Grid Company joint venture for over a decade, we have first-hand knowledge of the Bailey team’s expertise in producing high quality light construction solutions,” said Mark Rayfield, President and CEO of Saint-Gobain North America. “Their employee-centric culture and unwavering commitment to customers is what makes them an excellent partner for Saint-Gobain, and I look forward to the Bailey team’s continued contributions to fulfilling our global purpose – ‘Making the World a Better Home.”’

“As Saint-Gobain’s growth journey in Canada continues, I can think of no better partner than The Bailey Group of Companies,” said Julie Bonamy, CEO of Saint-Gobain Canada. “With their long-standing expertise in metal framing and building solutions, we will take a significant step forward in our vision to provide a comprehensive portfolio of building materials to our customers.”

“As leaders in metal framing for nearly 75 years, we look forward to continuing our same quality service and support to Canadian customers alongside our long-time partner Saint-Gobain,” said Angelo Sarracini, CEO of the Bailey Group. “Working together, we will enhance the experience for our customers throughout Canada, who will benefit from our combined expertise and portfolio of complete building systems and solutions. We are excited to continue the Bailey story as we start this next chapter.”

“The Bailey Family’s long-standing commitment to our associates and customers is at the heart of everything we do. We pride ourselves in the culture that has been built over the past 74 years,” said Stuart Hunt, President of Bailey Metal Processing. “Saint-Gobain shares many of the core values that the Family holds in high regard. I am looking forward to building upon the 74 years of success with the Saint-Gobain team.”

Today’s announcement follows several other recent growth investments announced by Saint-Gobain in Canada:

• In February, Saint-Gobain completed the installation of a recovery system at its gypsum facility in Vancouver, British Columbia, expected to reduce Scope 1 carbon dioxide emissions by 15%.

• In September, Saint-Gobain completed the $1.325 billion acquisition of Building Products of Canada Corp., reinforcing its leadership in light and sustainable construction in Canada.

• In 2022, Saint-Gobain announced the acquisitions of both Kaycan and GCP, strengthening its leadership positions in siding and construction chemicals respectively in both Canada and the United States.

• In June 2022, Saint-Gobain and CertainTeed Canada announced an investment to upgrade equipment at its gypsum facility outside Montreal, which will increase the plant’s production capacity by up to 40%. The plant will also transition away from fossil fuels to solely being powered by renewable electricity from Hydro-Quebec, making it the first zero-carbon wallboard plant in North America for scopes 1 and 2 emissions. Work on this project is currently underway.

With over 145 manufacturing locations in Canada and the United States, every current and future member of the company’s team plays a vital role in achieving its sustainability goals. A current list of job openings at all Saint-Gobain locations can be found on the company’s careers website.

About CertainTeed

With innovative building solutions made possible through its comprehensive offering of interior and exterior products, CertainTeed is transforming how the industry builds. As leaders in building science and sustainable construction, CertainTeed makes it easier than ever to create high-performance, energy-efficient places to live, work and play, so that together we can make the world a better home.

A subsidiary of Saint-Gobain, one of the world’s largest and oldest building products companies, CertainTeed has more than 6,900 employees and more than 60 manufacturing facilities throughout Canada and the United States. www.certainteed.ca

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group’s commitment is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.

€47.9 billion in sales in 2023

160,000 employees, locations in 76 countries

Committed to achieving net zero carbon emissions by 2050

About The Bailey Group of Companies

Founded in 1950 by Sam Bailey, the Bailey Group of Companies is a family owned, Canadian operation. The Bailey Group of Companies, consisting of Bailey-Hunt Limited and its subsidiaries, is recognized as an industry leader, offering building solutions to both the commercial framing and drywall finishing residential markets.

With twelve locations across Canada, our manufacturing capacity and national presence ensures that our customers, across the country, have the products they require quickly. Bailey production facilities are strategically located within 90% of Canadian job sites. We constantly work to deliver high quality, innovative valuable products. Supplying industry leading service and product solutions for the construction industry is our long-standing and enduring commitment.

Contacts

Peter Clark

(+1) 603 513 8513

Torontonians are tired of settling for less, demanding better quality and design from developers

TORONTO–(BUSINESS WIRE)–Toronto consistently ranks as one the most desired places to live in North America, and with ambitious immigration targets by the Government of Canada, there is an urgent need for sustainable housing, with condos paving the way as the predominant housing choice. However, new research shows that traditional Toronto condos are starved of quality, architecture, livability and design forcing a high demand for improvement across the city.

In a recent survey conducted by Devron with members of the Angus Reid forum, the majority of GTA residents see the potential for condos to be a long-term housing solution, with almost half (47%) of respondents believing condos can be long-term homes, and 40 per cent saying it’s a potential option, depending on the unit or building. This sentiment is echoed strongly by current condo dwellers, with 71 per cent expressing confidence in long-term condo living. However, despite the increase in positive outlook, a staggering 93 per cent of respondents feel that Toronto needs better built condos, and almost four-in-five (79%) believe most Toronto condo units are cheaply made, indicating a dissatisfaction with the current landscape.

“The perception of condo living in Toronto is not ideal, and sadly, people have become used to low standards,” said Pouyan Safapour, President of Devron. “We want to show Torontonians that condos can be beautiful, functional and livable long-term homes that they can take pride in. With each development, including our latest project, 101 Spadina, we strive to challenge this status and change the narrative on condo living in Toronto.”

Design deficit: Torontonians demand architectural appeal

Condo developments that offer unique designs and stand out from the rest are more likely to inspire and capture the imagination of GTA residents. According to the survey, 59 per cent of GTA residents feel that current condo offerings in Toronto are lagging compared with other major Canadian cities in terms of interesting and exciting designs, while the majority (86%) believe that Toronto’s skyline lacks captivating architecture. Additionally, only eight per cent strongly agree that Toronto’s condo buildings exhibit unique designs and personalities, underscoring the growing interest for condo developments that offer architectural appeal, paired with unique and captivating designs. Interestingly, nearly all GTA residents surveyed (96%) said developers have a responsibility to build quality homes that contribute to Toronto’s liveability and infrastructure.

“The survey shows that condos can be a sustainable, long-term living option, and a home for people and families of all ages and life stages. Every building should offer a variety of suite sizes for growing families, not just one-bedrooms for transitory dwellers,” said Safapour. “The quality must go beyond just nice appliances and finishes — it’s often what is behind the walls that affects our life and comfort the most. Suites should be designed with people’s comfort and experience in mind, including features such as noise insulation between suites, quality windows for noise and thermal protection, high performance elevators and pressure sealed doors, leak detection, pot lights for even lighting, large windows and many more details that matter. We take a comprehensive approach to lead the charge towards a future where high living standards are the new norm in condos, and condos can become synonymous with the word ‘home’.”

Devron has embraced this commitment in the design of 101 Spadina — a 39-storey residential community meticulously crafted to meet the evolving needs and lifestyles of Torontonians seeking enduring, livable spaces. 101 Spadina is inspired by the art deco style and history of the neighbourhood and fuses modern and classic architecture to challenge Toronto’s glass buildings. The use of masonry construction, a rarity in contemporary glass high-rises, distinguishes the building from most downtown condos. The development will also feature a 10,000 square foot public park to help create more green space for the city and redefine downtown living.

“Toronto needs more buildings that will contribute to the city’s livability and make people want to stay and lay roots in the city. We aim to do just that with 101 Spadina,” said Safapour. “We hope our community will become the standard in downtown Toronto living, not the exception.”

Condo purchasing considerations

As single-family homes remain out of reach for many, an increasing number of GTA residents are turning their attention towards condominiums as they contemplate their housing options. This surge in interest is driven by a variety of factors that make condo living particularly appealing, with the top consideration being respondents valuing reduced maintenance and less responsibility (33%) that come with condo living. In addition, 20 per cent want to live close to downtown Toronto, for convenient access to life’s essentials such as restaurants, childcare facilities, schools and medical services.

The appeal of condo living continues to rise, offering a compelling, sustainable alternative to traditional single-family homes. Designed to meet the diverse needs of Torontonians, Devron’s 101 Spadina project strives to set a new bar for condo living and positively impact the city.

To learn more about 101 Spadina, visit 101spadina.com.

About Devron Developments

Devron Developments (Devron) is an award-winning residential home builder, passionate about positively impacting people’s lives and experiences by creating long-term livable spaces in the Greater Toronto Area. With a portfolio of notable condominiums like The Vanguard, The Winslow, and the upcoming 101 Spadina, Devron is committed to elevating communities through thoughtful architecture that enhances the cityscape, high-quality buildings with a focus on livability, and sustainability. With nearly one million square feet of mixed-use property under development, Devron strives to create homes and inspiring spaces for end-users that are tailored to their neighbourhoods. Discover more by visiting www.devron.com.

About 101 Spadina

101 Spadina is a 39-storey residential community strategically positioned at the intersection of Spadina Ave. and Adelaide St. Inspired by the art deco style and rich history of the neighbourhood, 101 Spadina was designed with innovative engineering using advanced building sciences, including out-of-sight features that ensure an unparalleled living experience. From advanced ERV and air ventilation systems, acoustic insulation and leak protection mechanisms, leak detection, pot lights, 101 Spadina prioritizes comfort and peace of mind.

With a variety of suite sizes and layouts for people and families, 101 Spadina offers personalized options for everyone. Positioned to challenge traditional perceptions of condo living, it provides residents with a range of amenities and services to enhance their quality of life.

About the survey

These are the findings of a survey conducted by Devron from March 5 to March 12, 2024 among a sample of 510 GTA residents (ages 18+ yrs.) who are members of the Angus Reid Forum. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-4.3 percentage points, 19 times out of 20.

Contacts

For more information:
Emily Ellis

Kaiser & Partners

905-599-6138

emily.ellis@kaiserpartners.com

Agents and teams are drawn to the company’s strong culture and the flexibility of its technology platform

TORONTO & NEW YORK–(BUSINESS WIRE)–$REAX #therealbrokerage–The Real Brokerage Inc. (NASDAQ: REAX), the fastest-growing, publicly traded real estate brokerage, today announced that it has continued to see a strong influx of top agents and teams during the month of March with many of its newest recruits joining under the company’s recently launched Private Label and ProTeams programs.

The company’s newest members add to Real’s growing presence of 16,000+ agents throughout the U.S. and Canada – particularly in California and Texas, as well as in Virginia, where Real has seen its agent count more than double over the past 12 months.

“In addition to providing one of the most competitive models in the real estate industry, we empower our agents to tap into Real’s industry-leading proprietary technology and collaborative culture to build their business their way,” said Real President Sharran Srivatsaa. “A team’s potential to grow on Real’s platform is nearly limitless. We’ve built what agents in this industry have been waiting for, and our recent growth reflects that.”

For the teams that joined in March, five elected to maintain their existing branding via Private Label, Real’s white labeling program. Additionally, all teams that joined in March benefited from ProTeams, a platform which gives them the flexibility to customize their team members’ caps, splits and fees down to the individual team member level, allowing them to continue to embrace the structure that works best for them while reaping the benefits associated with being a part of Real.

• F3 (Faith, Family and Freedom) Home Team, led by Josh Rogers. The 14-agent team ranked as the No. 1 large team in the Jacksonville/St. Augustine market by RealTrends last year, with home sales totaling $110 million in 2023.
• River City Elite Properties, led by Susan Stynes. A Certified Luxury Home Marketing Specialist, Stynes and her team of more than 20 agents serve the Richmond, Va., market. The boutique brokerage joins under Real’s Private Label program and had sales of $110 million in 2023.
• The Nussbaum Team, led by Yitzi Nussbaum. Nussbaum brings eight agents who serve luxury clients at The Jersey Shore and Miami. A recipient of the New Jersey REALTORS Circle of Excellence Platinum Award each year since 2017, the team’s Jersey Shore home sales exceed $400 million. In 2023, its sales were valued at more than $101 million.
• The 10-agent Lisa Birdsong Group, led by luxury agent Lisa Birdsong. Known nationally, the Birdsong Group serves the Dallas metro. It has generated total home sales valued at more than $600 million, including $65 million in 2023.
• Mint Real Estate, led by Bryan Hill. Headquartered in Costa Mesa, Mint adds to Real’s growing presence in California. The 10-agent team serves Orange County, Los Angeles and Temecula. It has completed $375 million in home sales since its founding in 2020, including $57 million in 2023, placing it in RealTrends’ top 100 ranking. Mint joins under Real’s Private Label program.
• The McKenna Team, led by Cynthia McKenna. The six-person team serves Suffolk and Nassau Counties of Long Island, N.Y. In 2023, the team’s home sales totaled $53 million.
• Farr Group, led by Aaron Farr. The four-agent team serves Spokane, Wash., and ranks among the market’s top 1% of Realtors. The team has generated home sales totaling nearly $250 million since 2020, including $44 million in 2023.
• Match Realty, led by Cyrus Wheeler. Match, which serves the Detroit metro, including Wayne, Oakland and Macomb counties in Michigan, brings 13 agents to Real and joins under the company’s Private Label program. Since being formed in mid-2022, Match has completed homes sales valued at more than $100 million, including $35 million in 2023.
• Pinpoint Properties, led by Duran Babatunde. The eight-agent team serves the North Carolina communities of Wilmington, Leland, Hampstead, Surf City, Topsail, Oak Island and Ocean Isle Beach. Over the past three years, the team’s sales have increased annually for a total of $80 million, including $36 million in 2023.
• MK & Associates, led by Micah and Kelly Laurendeau. The 15-agent team serves the Hampton Roads region of Virginia, and adds to Real’s growing presence in Virginia. A Mega Diamond Team recipient of the Hampton Roads REALTOR Associations’ A Circle of Excellence award, MK & Associates has completed home sales valued at approximately $160 million since 2020, including sales of $35 million in 2023.
• Crescas Real Estate, led by Robert Crescas. The 17-agent team serves the Norfolk and Virginia Beach, Va., markets as well as North Carolina’s Outer Banks. Crescas completed home sales totaling $192 million over the past three years, including $31 million in 2023.
• O.N.E. Florida Group, led by Amy Howell. O.N.E. Florida Group’s eight agents will represent Real’s Military Division throughout Northeast Florida. In addition to consistently ranking in the top 5% of teams serving the region by volume, it is highly committed to community outreach. Its annual Treats for the Troops donation provides care packages to more than 500 deployed troops. The team had total home sales of $30 million in 2023.
• Bureau Real Estate, a two-person team founded by Alexine McTeer and Robbie Kamaleddine. Based in Edmonton, Alberta, Bureau has distinguished itself by delivering a luxury experience at all price points and takes pride in creating an inclusive real estate experience and understanding the unique needs of members of the LGBTQ+ community when it comes to buying and selling a home.

About Real

Real (NASDAQ: REAX) is a real estate experience company working to make life’s most complex transaction simple. The fast-growing company combines essential real estate, mortgage and closing services with powerful technology to deliver a single seamless end-to-end consumer experience, guided by trusted agents. With a presence in all 50 states throughout the U.S. and Canada, Real supports more than 16,000 agents who use its digital brokerage platform and tight-knit professional community to power their own forward-thinking businesses.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as of the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, expectations regarding Real’s ability to continue to attract agents.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. Important factors that could cause such differences include, but are not limited to, slowdowns in real estate markets, economic and industry downturns and Real’s ability to attract new agents and retain current agents. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Contacts

Investor inquiries:

Ravi Jani

Vice President, Investor Relations and Financial Planning & Analysis

investors@therealbrokerage.com
908.280.2515

For media inquiries:

Elisabeth Warrick

Senior Director, Marketing, Communications & Brand

press@therealbrokerage.com
201.564.4221

TORONTO–(BUSINESS WIRE)–RioCan Real Estate Investment Trust (“RioCan”) (TSX: REI.UN) today announced that it is scheduled to release its financial and operational results for the three months ended March 31, 2024 after the market closes on Tuesday, May 7, 2024.

Interested parties are invited to participate in a conference call with management on Wednesday, May 8, 2024 at 10:00 a.m. Eastern time. To access the conference call, click on the following link to register at least ten minutes prior to the scheduled start of the call: Pre-registration link. Participants who pre-register in advance of the call will receive an email with dial-in credentials including login passcode and PIN to gain immediate access to the live call. Those that are unable to pre-register may dial-in for operator assistance by calling 1-833-950-0062 and entering the access code: 616433.

A live webcast will also be available in listen-only mode. Access to the simultaneous webcast is available by selecting this link: RioCan Q1 2024 Webcast.

If you cannot participate in the live mode, a replay will be available for one week following the date of the live conference call. To access the replay, please dial 1-866-813-9403 followed by the access code: 851637.

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at December 31, 2023, our portfolio is comprised of 188 properties with an aggregate net leasable area of approximately 32.6 million square feet (at RioCan’s interest) including office, residential rental and nine development properties. To learn more about us, please visit www.riocan.com.

Contacts

RioCan Contact
Kim Lee

Vice President, Investor Relations

RioCan REIT

416-646-8326

TORONTO–(BUSINESS WIRE)–$KNR #esg–Kontrol Technologies Corp. (Cboe CA:KNR) (OTCQB:KNRLF) (FSE:1K8) ( “Kontrol” or the “Company”) a leader in smart buildings and cities through IoT, Cloud and SaaS technology is pleased to announce that it has entered into an amended credit agreement with its secured lender and exited forbearance.

“A key objective for the Company in 2023 was to strengthen the balance sheet and we have accomplished that by focusing efforts to reduce debt and corresponding interest expense,” says Paul Ghezzi, CEO of Kontrol Technologies. “Our successful de-leveraging has well positioned the Company to execute on strategic initiatives to continue to grow the business.”

The Company entered into an amended credit agreement and exited from forbearance, thereby returning to regular commercial borrowing. Under the terms of the credit agreement, interest is payable at Bank Prime rate plus a margin (between 1.25% and 2.0% based on the Company’s ratio of secured debt to earnings before interest taxes and depreciation) with principal repayments amortized over five years.

The Company started 2023 with approximately $15 million of secured debt and by the end of Q1, 2024 anticipates a secured debt balance of approximately $3.7 million. For 2024 financial reporting, as a result of exiting forbearance, the Company will classify principal obligations on the secured debt which are beyond 12 months as long-term debt on its balance sheet.

Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings. Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedarplus.com

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Neither CIRO nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Where Kontrol expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all; that those technologies will not prove as effective as expected; those customers and potential customers will not be as accepting of the Company’s product and service offering as expected; and government and regulatory factors impacting the energy conservation industry.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.

Contacts

Kontrol Technologies Corp.
Paul Ghezzi, CEO

info@kontrolcorp.com
11 Cidermill Avenue, Suite 201

Vaughan, ON L4K 4B6

Tel: (905) 766.0400