AEP.V - Atlas Engineered Products

Atlas Engineered Products shareholder nearly triples stake

Il y a un ‘‘Early Warning Report’’ avec tous les détails qui a été publié sur Sedar hier soir.

Cet investisseur détient des grosses positions dans plusieurs compagnies profilées par Paul Andreola et SmallCap Discoveries.

2 J'aimes

Atlas Engineered Products Completes Tandelle-Pacer Acquisition

NANAIMO, British Columbia, Nov. 20, 2018 (GLOBE NEWSWIRE) – ATLAS ENGINEERED PRODUCTS LTD. (“Atlas” or the “Company”) (TSX-V: AEP)(OTC Markets: APEUF) today reports that it has completed the acquisition of Tandelle Specialty Inc. and Pacer Building Components Inc. (“Tandelle-Pacer”) of Ilderton, Ontario previously announced on August 14, 2018. With the acquisition of the Tandelle-Pacer operations, Atlas has added a large and well-established truss, engineered beam and wall and floor panel business, with a large, solid and growing customer base in the Greater Toronto area, entry into the Detroit, Buffalo and Rochester Market, and room to expand operations with ease. The acquisition of Tandelle-Pacer also adds a very experienced management team to Atlas’ Ontario operations.

Tandelle-Pacer’s unaudited revenues for the fiscal year ended October 31st, 2017 were approximately $14.4 million with adjusted EBITDA of $1.9 million. To acquire Tandelle-Pacer, Atlas paid $8.6 million on closing, based on Tandelle-Pacer having a target net working capital of $2,280,938 on closing. The purchase price paid on closing consisted of $8.1 million in cash, and 1,063,830 Atlas common shares having an agreed upon value of $500,000. The cash portion of the purchase price was paid with $3.6 million in proceeds from the first tranche of Atlas’ $0.40 per share private placement financing, and $4.5 million in financing from a Canadian chartered bank. The cash portion of the purchase price is subject to adjustment post-closing based on Tandelle-Pacer’s actual net working capital as of the closing date.

“We are so proud of welcoming Tandelle-Pacer into the Atlas family. Completion of this acquisition is a significant milestone for Atlas, as we add enormous engineering and design skill, manufacturing capacity and strong profitability to Atlas. Tandelle-Pacer is a dominating regional player in the greater Toronto area, with a strong presence into the Buffalo & Detroit areas too,” commented Mr. Dirk Maritz, President & CEO of Atlas. “We now have a significant level of revenue and cash flow critical mass, which allows us to really target larger, really profitable acquisition targets, and deliver strong results for shareholders.”

Mr. Maritz continued, “Fundamentally, this transaction affirms the strength of both our acquisition and organic growth strategies with Atlas now approaching that $40m-$50m top-line revenue mark, and huge opportunity to grow organically in each of our group locations. Tandelle-Pacer’s demonstrated reputation for strong organic growth combines well with what we experience in the rest of the Atlas group, and the Tandelle-Pacer operation adds a large and well-established design and engineering powerhouse in the truss, engineered beam, wall and floor panel business with room to expand operations with ease.”

Please follow the attached link to view Mr. Dirk Maritz’s interview with Proactive Investors:

About Atlas Engineered Products Ltd.

Atlas Engineered Products is a leading supplier of trusses and engineered wood products. Atlas was formed over 18 years ago and operates manufacturing and distribution facilities in British Columbia and Ontario to meet the needs of residential and commercial builders. Atlas has expert design and engineering teams, multiple-shift state-of-the-art truss manufacturing operations, and large inventories of engineered beam and flooring components. Atlas aims to grow its base of business across Canada by pursuing an aggressive acquisition and consolidation and product diversification strategy. Atlas will bring its construction industry partners across Canada unparalleled excellence in service, product, and support and is committed to supplying them with the full array of components and assemblies they might require for their projects – from design to lockup

3 J'aimes

C’est vraiment un excellent prix d’acquisition, moins de trois fois EBITDA!

2 J'aimes

Entrevue avec le nouveau PDG:

3 J'aimes

Atlas Engineered Products Enters Into Definitive Agreement to Acquire South Central Building Systems and Closes Second Trance of Private Placement Financing

Interminable placement mais voilà la Compagnie peut se concentrer sur sa croissance spectaculaire.

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Le CEO, CFO et 3 directeurs (dont le Chairman et le fondateur de l’entreprise) ont participé au placement privé :

Canadian Insider - AEP

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Nouvel initié possédant 10%+ de l’actionnariat (majoritairement à travers un fonds) : Miko Malberg

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Atlas Engineered Products completes acquisition of South Central Building Systems Ltd.

NANAIMO, BC, March 5, 2019 /CNW/ - ATLAS ENGINEERED PRODUCTS LTD. (“AEP” or the “Company”) (TSX-V: AEP)(OTC Markets: APEUF) today reports that it has completed the acquisition of South Central Building Systems Ltd. (“South Central”) of Carman, Manitoba. With this acquisition AEP has added an energetic, high performance team to the AEP family of companies. South Central is a best in class operation with efficient automation, capacity to increase output, and a loyal and growing customer base in the middle of over 25+ growing communities in Southern Manitoba, and easy access to the large Winnipeg market. South Central also offers potential entry into the northern parts of Minnesota and North Dakota.

On closing, AEP paid a $300,000 deposit against the $2,500,000 in cash and assumed a debt that it had agreed to pay on closing (the “Cash Payment”). AEP expects that the balance of the Cash Payment will be paid within the next 7-10 days. AEP will pay the former shareholders of South Central interest on the unpaid portion of the closing cash amounts at a rate of 10% per annum until that amount has been paid. On closing, AEP also issued a total of 1,000,000 common shares to the former shareholders of South Central. In addition, AEP will pay to the former shareholders of South Central an additional $500,000, payable in five equal monthly installments of $100,000 each, beginning three months after closing. The former shareholders of South Central may elect to receive these installment payments in AEP common shares at a price of $0.40 per share, provided that the election is made with respect to his or her full pro rata share of the remaining unpaid balance of those installment payments.

AEP has secured bank financing for the balance of the Cash Payment, with flow of funds expected to occur within the next 7-10 days. If the balance of the Cash Payment is not paid by the close of business on April 30, 2018, the transaction will be unwound, the deposit will be returned to AEP less $50,000 and the AEP shares that were issued will be surrendered for cancellation. Post-closing working capital adjustments to the purchase price are expected to be settled within 30 days after closing.

“It’s been a busy year for AEP as we continue to make progress on our integration activities across all plants, removing costs and eliminating duplication,” stated Dirk Maritz, CEO and President of AEP. “In fact, our plants are running full throttle during the typical slowest quarter of the year. We continue to make significant inroads into expanding the customer base, upgraded all plants to a standardized design platform, instituted centralized procurement and introduced wall panels, floor trusses and other engineered products at our Nanaimo facilities which already is starting to render positive results.”

Mr. Maritz continued, “Now, with the South Central Building Systems acquisition our footprint is expanding again. We are well prepared to integrate South Central into the AEP family and excited to grow our presence into the Canadian Prairies.”

Please follow the attached link to view Mr. Dirk Maritz’s interview with Proactive Investors:

AEP also announced that, effective March 4, 2019, it granted options to purchase up to 1,390,000 common shares at an exercise price of $0.30 per share to certain directors, officers and employees. The options expire five years after the grant date, with 1/3 of the options granted vesting every six months over an 18 months period.

3 J'aimes

Un changement au code de construction permettra de passer de 6 à 12 étages pour la construction d’immeubles en bois. Un point positif pour AEP.

B.C. building code adjusted upwards to allow 12-storey wood buildings

British Columbia is increasing height limits for the construction of wood buildings.

Premier John Horgan says the B.C. building code will be changed to allow wood construction buildings to reach 12 storeys, up from six storeys.

Horgan made the building code announcement at a timber production company in Okanagan Falls near Penticton that has been a North American leader in wood products used in buildings.

He says the building code changes come one year ahead of expected changes in the national building code, which are also expected to increase height limits for wood buildings to 12 storeys.

Hardy Wentzel, chief executive officer of Structurlam, says the changes allow his B.C. company to continue to be an innovator on building designs and creating jobs using the province’s timber resource.

Horgan says wood construction buildings are fire resistant, environmentally sustainable and add value to timber products.

2 J'aimes

Salut jai dans la mire AEP depuis un certains temps mais je me demandais comment ca il ny a pratiquement aucune transaction chaque jour … ?
Merci de méclairer :slight_smile:

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C’est souvent le cas dans les microcaps, particulièrement avec les compagnies qui sont peu connues et/ou lorsque le ‘‘float’’, c’est-à-dire le nombre d’actions disponibles à être transigées (pas détenues par les initiés) est petit.

Dans le cas de AEP il y a quand même des transactions chaque jour même si ce sont de petits volumes. J’ai souvent vu pire!

Dépedemment de la taille de la position que tu comptes prendre, le manque de liquidité peut être un facteur de risque supplémentaire à considérer s’il est difficile d’acheter et de revendre ta position.

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Je vais dire comme certains dise parfois jai pris une bouché de AEP aujourdhui bien hate de voir le développement de cette compagnie :eyes:

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Nouvelle présentation aux investisseurs

Nouveau site web

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Atlas Engineered Products Pays $2.2 Million Balance of Closing Price for Sixth Acquisition

NANAIMO, BC, March 26, 2019 /CNW/ - Atlas Engineered Products (“AEP” or the “Company”) (TSXV:AEP)(OTC Markets: APEUF) reports today it has paid the outstanding closing cash payment of $2.2 million related to its acquisition of South Central Building Systems Ltd. (“South Central”).

The purchase aligns with AEP’s strategy of acquiring and operating profitable, well-established companies in Canada’s truss and engineered products industry. South Central, located in Carman, Manitoba, is a profitable operation with efficient automation, capacity to increase outputs, and a loyal and growing customer base covering more than 25 communities. The plant also provides easy access to the large Winnipeg market, as well as offering potential entry into the northern parts of Minnesota and North Dakota.

The purchase is AEP’s sixth acquisition in just over a year and expands the Company’s cash-flowing portfolio and footprint into a third province, to now include B.C., Ontario and Manitoba.

“We are strengthening the financial and operational performance of these acquired companies through standardized best practices, dedicated sales outreach, cost efficiencies and extended product mix. While focusing on these steps as the shortest pathway to profitability as a combined group, we intend to continue our strategic acquisition path,” says Dirk Maritz, President and CEO of AEP. “Our vision is to create a national family of operating companies deeply entrenched in serving regional construction markets.”

To acquire South Central, AEP agreed to pay an aggregate purchase price of $3.4 million, consisting of $2.5 million payable on closing in the form of cash and assumed or refinanced debts, one million AEP common shares valued at an agreed upon price of $0.40 per share, and $500,000 payable in five equal monthly instalments, with the first instalment payment due in the third month following closing. The former shareholders of South Central may elect to receive these installment payments in AEP common shares at a price of $0.40 per share, provided the election is made with respect to his or her full pro-rated share of the remaining unpaid balance of those installment payments. As reported in its March 5, 2019 press release, on closing AEP paid a deposit of $300,000 against the $2.5 million total cash and refinanced debt obligations. Today’s payment represents the balance of the outstanding cash and refinanced debt obligations.

1 J'aime

J’ai rencontré le nouveau PDG de Atlas, Dirk Maritz, la semaine dernière. Voici mes notes:

  • Dirk a une expérience assez impressionante. Il a travaillé pour de grandes entreprises et a été à la tête de divisions générant des milliards de revenus avec des milliers d’employés. Au départ, il croyait que c’était une blague lorsqu’il s’est fait offrir le poste de PDG de Atlas. Cependant, après avoir fait des recherches sur l’industrie, il a réalisé l’ampleur de l’opportunité et a décidé de joindre l’entreprise.

  • Dirk a implémenté beaucoup de changements depuis son arrivée, notamment au niveau du personnel. Ceux qui n’avaient pas la même vision ont quitté alors que de nouveaux employés avec un esprit plus entrepreneurial se sont joint à l’entreprise.

  • La stratégie de croissance repose sur 3 principaux pilliers (en ordre d’importance): 1) Croissance des profits via l’amélioration des processus et des marges 2) Croissance organique des ventes des usines actuelles. 3) Croissance par acquisitions.

  • En suivant cette logique, le focus de Dirk pour l’instant est de bien intégrer les récentes acquisitions et d’améliorer l’efficacité des opérations actuelles. Il ne semble pas vouloir procéder à une autre acquisition à court terme.

  • L’objectif à l’interne pour 2019 est d’atteindre 50 millions $ de ventes avec les opérations actuelles et d’être profitable.

Il est encore tôt pour juger du travail de Dirk, étant donné qu’il est en poste depuis seulement quelques mois. Cela dit, j’ai été impresionné par sa vision à long terme pour l’entreprise. De plus, son expérience démontre qu’il a été capable d’exécuter dans le passé.

Ce titre reste sur ma ‘‘watch list’’ pour l’instant, mais je le trouve définitivement plus intéressant suite à ma rencontre.

4 J'aimes

Il a donné un exemple concret de potentiel de croissance organique avec l’acquisition de South Central au Manitoba. La compagnie a généré 3.6M$ de ventes en 2018 (+35% comparativement à 2017) et ce sans avoir aucune vente dans le secteur de Winnipeg alors qu’ils sont situés à seulement 70km de là.

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Atlas Engineered Products Announces Realignment of Executive Team

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Atlas Engineered Products’ South Central Plant Completes First Customized Wall Panel Project

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Nouvelle présentation aux investisseurs - Mai 2019

AEP_Investor Day Presentation_2019_V4_LoRes (1).pdf (964,5 Ko)

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Atlas Engineered Products Reports First Quarter Financial and Operating Results

J’aime qu’ils ont séparé les revenus de l’usine originale de Nanaimo et ceux des nouvelles acquisitions. La forte croissance semble confirmer le potentiel de croissance organique dont le CEO parlait dans ses trois pilliers stratégiques.

Ça sera intéressant de voir si ils peuvent répliquer la même chose avec les acquisitions.

C’est encore très tôt mais si la compagnie continue d’exécuter et de consolider le marché, est-ce fou de penser qu’AEP pourrait devenir un semblant de Boyd Group? C’est permis de rêver :stuck_out_tongue:

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