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Client Profile: Gienow Windows and Doors Income Fund

Taking the time to understand

When a group of Calgary businessmen, including Dave Munro and Dennis Zentner, purchased Gienow Building Products Ltd. in 1983, their vision was to transform the local window and door manufacturer into a leading national company. It’s a goal they have realized. Today, Gienow employs 1,400 people, boasts manufacturing and distribution facilities from British Columbia to Quebec, and sells its products across Canada as well as in the United States, Europe and Asia.

BMO has been a partner in Gienow’s journey. Says Neil Runions, Senior Manager, Corporate Finance Division at BMO Bank of Montreal, “Although our relationship with Gienow is relatively new, it has proven to be significant.” BMO has helped the company obtain the financing it needed to grow its business both organically and through acquisitions, and has provided tailored cash management services. In 2001, BMO Bank of Montreal provided senior debt financing to Gienow, enabling the company to consolidate its presence in Western Canada. More recently, the Bank led a loan syndication to expand Gienow’s credit facilities and BMO Nesbitt Burns co-led a syndication that assisted Gienow in its conversion to an income fund. Capital raised through Gienow’s initial public offering in 2004, combined with loan facilities, made it possible for the company to acquire Farley Windows of Alexandria, Ontario in 2004 and Chantecler Windows and Doors Inc. of Gatineau, Quebec in 2005, giving Gienow a firm foothold in Eastern Canada.

“BMO’s people took the time to understand our business and our industry,” explains Dave Munro, President and CEO at Gienow. “Representatives from across the BMO organization came together, looked at our financial needs and came back with a solution that recognized our success and reflected our growth strategy and vision. We feel that BMO is part of our team.”

	BMO has the second largest market share in business lending in Canada.
	BMO participated in 268 corporate equity transactions that raised $34 billion for Canadian companies.
	Across Canada, we have a total of 1,900 investment professionals located in BMO branches and offices – a reflection of BMO’s commitment to providing our customers with the depth and breadth of financial products and services they need.