Duravent is currently the market leader in the North American flue gas venting market through two businesses: Duravent, founded in 1956, is a manufacturer of venting products for gas, wood, oil, pellet and other alternative fuel burning appliances. Security Chimneys, founded in 1960, is a light HVAC commercial products manufacturer, including complete chimneys for residential and commercial applications.
Our value creation strategy focuses on the following five elements:
- Consolidation and internationalization: strengthen our position in Canadian hearth and commercial market through the acquisition of Security Chimneys
- Carve-out: spin-off of Duravent from M&G with dedicated management team and supervisory board created more focus
- Footprint rationalization: rightsizing operational footprint by moving manufacturing facilities from Albany to Vacaville and Laval
- Professionalization: strengthened and transformed the organization to a lean, sales-driven, dedicated organization focused on process, quality and data
- Transition: grow into adjacent markets driven by macroeconomic trends including renewables, indoor air quality, filtration and air monitoring technology. E.g. specific vent for rooftop solar systems developed for Tesla