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This transaction has allowed the shareholders of Canbar Steel Fabricators Ltd. (“Canbar”) to implement their succession strategy, while ensuring the continued success and growth of the business. The purchaser, Myer Salit Ltd (“Salit Steel”) has used the acquisition to expand its existing business into the province of Alberta.
Established in 1977, Canbar is a privately held, Calgary-based business involved in the fabrication and supply of steel reinforcing products (rebar and wire) and steel reinforcing related products.
Salit Steel is a family owned, 5th generation steel company that specializes in the manufacture, supply, and installation of rebar, stainless steel rebar and precast. The Company is headquartered in Niagara Falls, Ontario, with multiple other locations across Ontario, Montreal, Niagara Falls (U.S.) and Saskatchewan.
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