Atis Group Defers IPO

June 30, 2010
Companies

Atis Group Inc., the Quebec-based window and door maker with operations across Canada, has decided against an initial public offering due to unfavorable market conditions, according to several press reports.

"Given the increased uncertainty and volatility in the markets, primarily due to macro economic circumstances, we believe it is best to defer the offering at this time," Robert Doyon, president and chief executive, said in a statement. "We will continue to execute our business plan according to our growth objectives and reconsider the IPO in the future when equity market conditions are more favorable."

Atis Group filed a prospectus for its public offering about a month ago, following two acquisitions earlier this year. With the recent additions of Allsco Building Products in New Brunswick and Vinylbilt in Ontario, the company has more than 1,600 employees.