Friday, March 1, 2024
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The HASSLACHER group enters the North American market with the acquisition of a stake in Element5, a mass timber producer specialising in the design, manufacture and assembly of modern engineered timber buildings. Based near Toronto, Canada, the company employs over 100 people and produces cross-laminated timber and glued laminated timber for the North American market.
Joint strength + expertise on the market
The HASSLACHER group who is one of the leaders of the European timber industry and an innovation driver in wood processing industry, is taking this strategic step to further extent its reach in the North American market.
“Rapidly growing from a greenfield site four years ago into one of a few major certified mass timber producers in North America, we and our private equity investment partner Kensington Capital Partners are incredibly excited about this next phase of Element5’s journey. HASSLACHER’s strength in the global marketplace, its technology, and its very experienced team joined together with Element5 will drive a significant acceleration in our business” says Patrick Poulin, President, and CEO of Element5. “The ultimate complement of our mass timber product lines and services will be unmatched in North America”.
With the investment in Element5, the HASSLACHER group is one of the first European company to invest in the development and expansion of mass timber production capacity in the North American market. In addition to the existing cross-laminated timber line in St Thomas, Ontario, the HASSLACHER group investment will fund the start-up of a state-of-the-art new glulam line. With the cooperation and expertise of the HASSLACHER Group, this will create a high-performance production site in St. Thomas with a total mass timber production capacity of up to 100,000 m³ annually, which will go into full operation in the first half of 2025. Following the expansion, Element5 will employ around 200 people.
The HASSLACHER group is a globally active innovation leader in the field of intelligent and integrated system solutions for modern timber construction. The family-run enterprise has had its roots for generations in the use of wood as a wonderfully renewable raw material. Together with its 2000 employees, the HASSLACHER group produces innovative products in the areas of sawn timber, profiled timber, glued laminated timber, cross laminated timber and structural finger jointed solid timber for the European and international market.
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Tags: Element5, Hasslacher Group, north america, woodworking, woodworking and manufacturing, woodworking and processing, woodworking industry
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