Ontario’s Nicholson and Cates enters management buyout agreement
January 12, 2023 By CFI Staff
Lumber re-manufacturer and building products distributor Nicholson and Cates (N&C) today announced that they entered into a management buy-out agreement on December 1st, 2022.
Over the coming years, leadership of the organization will transition to an employee shareholder group consisting of Morgan Wellens, Brian Roger, and Bill Best. Leading the management buyout team is Wellens, current manager of N&C’s trading division.
“The management buyout team is honoured to be participating in the N&C legacy, which is approaching 100 years. We’re excited to help transition the organization and position it for the future,” Wellens said.
The management transition will take-place over the next few years and allow N&C to maintain its current brand recognition and autonomy. All divisions and operating units will continue in their same structure and locations.
“As we considered retirement, our main priority was to ensure that all employees, customers, and suppliers continue to be supported and cared for. It’s because of our dedicated employees, past and present, that N&C has grown and thrived while maintaining its strong set of principles and cultivating a family atmosphere,” said Jim Livermore, CEO and president of N&C.
For over 50 years the Livermore family has owned and managed N&C. In that time, the company has grown from a small family-run operation with a dozen employees, to a nationwide company with 200 employees.
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