GRYB acquires RAD Technologies, Dalkotech and Eco-trak
by CM Staff
The acquisition of these companies will help GRYB's entry into the OEM market
GRYB Announces Acquisition of RAD Technologies, Dalkotech and Eco-trak (CNW Group/Fonds de solidarité FTQ)
VICTORIAVILLE — The Fonds de solidarité FTQ and CDPQ say they will make an equity investment in GRYB, a heavy equipment manufacturer in Victoriaville, to help the company pursue its expansion plan and acquire RAD Technologies, Dalkotech and Eco-trak.
According to Fonds de solidarte FTQ, the acquisition of these companies will help GRYB’s entry into the OEM market and provide it with a product line. The company has also reported that GRYB’s sales have increased from $3.5 million in 2015 to more than $250 million more recently.
“The Dalkotech/RAD group is pleased to become a part of this team of dynamic young Québec entrepreneurs. The continuity of the business and respect for family values were paramount in our search for a buyer. After more than 35 years in business for Dalkotech and more than 60 years for RAD Technologies, there are many opportunities to continue creating jobs in Québec and there will be even more due to the synergy that will be realized after the merger. GRYB will become a major player on the North-American attachment market”, said Jean-Guy Dalton, president of the Dalkotech/RAD Technologies group in a statement.
Fonds de Solitaire also says several other financial partners contributed to this deal, including BMO, NBC, TD, RBC and Export Development Canada, Investissement Québec, Fondaction and the Business Development Bank of Canada completed the financing.
