BID Group icompleted of its acquisition of YGE Inc. YGE Inc stands as a supplier and service provider specializing in top-tier saw guides, grinders, and critical consumables catering to the wood processing industry. Located in St Raymond, Quebec, YGE has strong bonds with BID’S product lines, projects, and manufacturing facilities across North America.
In August, BID Group acquired Industrial Cutting Solutions in Alabama, the supplier of saws and critical consumable products to the wood processing industry. The group recently started a strategic capital investment of $4.7 million towards the modernization of its equipment to increase production capacity in its Saint-Georges and Saint-Éphrem-de-Beauce facilities in Quebec.
“We are excited to reach this agreement with our longtime partners YGE and the Guillemette family. This marks another important step in meeting our valued customer demand for modern, high quality and innovative saw and tooling technology solutions. This partnership builds on previous investments in Smith Sawmill Services, BLADE cutting tools, and the recently announced acquisition of Industrial Cutting Solutions in Alabama. “, said Simon Potvin, BID’s President, Wood Processing.
“I am pleased to be able to transition our business with the BID Group.”, said Yvon Guillemette, Owner of YGE. “I would like to thank our team for their dedication and hard work to build YGE over the years. I am confident this partnership will provide our employees, suppliers, and customers with enhanced opportunities and benefits.”
The transaction formally closed on Oct 1, 2023.
