Superior takes on U.S. Steve Ladurantaye

Superior Plus. Corp. is ready to take on the U.S. after closing a deal to buy architectural products firm Specialty Products and Insulation Co. for $135-million (U.S.)

Thd deal incrases the Calgary company's presence to 31 states from four, and bumps its distribution network to 70 centres in North America. The deal didn't come cheap, and included the issuance of $30-million worth of shares, a public offering of convertible debentures worth $61.7-million and a withdrawl from its syndicated credit facility.

"Superior's ability to source capital cost effectively demonstrates confidence in Superior's existing operations and North American growth opportunities," chief executive officer Wayne Bignham said.

Superior itself is a complicated entity, with four main business lines. It has a propane distribution business, a speciality chemicals division, a construction products distribution business operating under the Winroc name, and a fixed-price energy services business caled Superior Energy Management. .