The combination of the two companies will expand Pipp’s position as the leading provider of

Indoor Commercial Grow Racks, Greenhouse Structures and Air Circulation Systems in North America.

Walker, Michigan – October 18, 2021 – Pipp Horticulture (a division of Pipp Mobile Storage Systems, Inc.) (“Pipp”), the leading provider of space‐saving, multi‐level mobile cultivation systems, announced today that it has acquired the GGS Group of Companies (“GGS”). Based in Vineland, Ontario, GGS is one of the most recognized names in the Horticulture industry. They have been the leading manufacturer of top quality greenhouses and turnkey greenhouse growing solutions including traditional rolling benches, heating and ventilation systems, and curtain systems.

“We are thrilled to welcome the entire GGS team to the Pipp family of companies,” said Craig Umans, Pipp President and CEO. “GGS has decades of experience manufacturing greenhouse structures and has become a leading supplier to the horticulture industry. The company has consistently impressed us with its ability to deliver value to its customers, and we look forward to our next phase of growth.”

“We are pleased to partner with PIPP as we build an even more expansive platform to serve our customers.” said Leigh Coulter, President and Owner of GGS. “Our expertise in designing, manufacturing and installing commercial greenhouse structures, combined with Pipp’s state-of-the-art vertical farming and space optimization solutions, will allow us to offer North American growers a complete and efficient solution.”

“We are delighted to see two such complementary companies come together today. This acquisition is another step in Pipp’s strategy to become the leading supplier of turnkey solutions to all segments of horticulture globally.” said Marc Paiement, Senior Partner at Novacap. “We look forward to continuing to work with them throughout this process, providing support and expertise to help them achieve their goal.”

For the past several years, Pipp Horticulture’s mission has been to help cultivators across the globe save time and money by creating a more efficient grow facility and help streamline operations. Pipp has not only developed a product line that was purposefully designed to serve the cultivation market, but they have strategically acquired companies like GGS and Vertical Air Solutions, the leading provider of air circulation systems for indoor vertical farming, to be able to offer the industry a turnkey cultivation solution, continuously improving upon their services, and developing products that positively affect canopy output and facility operations.

Following this transaction, Coulter will remain President and CEO and operations will remain under the GGS banner.

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About Pipp Horticulture                                                     
Pipp Horticulture is the industry‐leading provider of vertical farming and space optimization solutions. We work with commercial agriculture professionals globally, to design, install, and optimize operational spaces throughout cultivation, post‐harvest, manufacturing, and distribution facilities through the implementation of vertical and mobile rack, cart, and ventilation systems. The Pipp team merges over 40 years of commercial mobile storage experience with horticulture industry experts with over 50 years of operational experience in commercial agriculture and seed‐to‐sale production. Pipp provides expertise, insight and network connections far beyond our mobile systems in support of our mission to augment financial performance and mitigate risk for our partners. For more information, please visit www.pipphorticulture.com.

About GGS Structures

The GGS Group of Companies is comprised of GGS Structures Inc., JGS Limited and Niagrow Systems Ltd. For over 40 years GGS has been designing and manufacturing greenhouses and growing environments throughout North America. Our design approach considers all the aspects of your agribusiness for greenhouses with immediate capability, greater convenience, and maximized growth potential. Tasco Dome, a brand of GGS, is a leader in fabric covered buildings for the agriculture, industrial and equestrian industries. JGS Limited provides state of the art greenhouse solutions for research facilities, educational institutions, conservatories and more. Niagrow Systems Ltd. designs greenhouse heating systems to make sure growers have the right amount of heat in the right location at the right time to maintain the ideal growing environment. For more information, please visit www.ggs-greenhouse.com.

About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with more than C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in TMT, Industries and now Financial Services, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial funding, Novacap has the resources and knowledge to build world-class businesses. Novacap has offices in Brossard, Québec and Toronto, Ontario. For more information, please visit www.novacap.ca.