LOU-TEC and Torcan Lift Equipment partner
by CM staff
Both companies will gain access to more equipment and capital, thereby multiplying opportunities to pursue their growth plans.
MONTREAL — LOU-TEC, a Quebec rental company for heavy machinery, tools and specialized equipment, partners with Torcan Lift Equipment, a company in the sales and rental of elevation equipment in Ontario.
The combined resources of LOU-TEC and Torcan Lift Equipment will accelerate their long-term growth plans. Both companies will gain access to more equipment and capital, thereby multiplying opportunities to pursue their growth plans.
Torcan Lift Equipment has a team of over 70 employees and a fleet of over 2,400 pieces of elevation equipment, it offers maintenance services for lifting equipment, as well as a full range of parts and industry-leading training.
“We are delighted to welcome the Torcan Lift Equipment team to the LOU-TEC family. This transaction is in line with LOU-TEC’s development plan, as it will enable LOU-TEC to establish a significant presence in Ontario and expand our existing business activities in that province,” said Jean-Marc Dallaire, President and CEO of LOU-TEC.
LOU-TEC and Torcan Lift Equipment will continue to operate as usual, retaining their respective names and brand images. The head offices of both companies will remain in their current locations.
This transaction is being carried out with the full support of Torcan Lift Equipment’s current management and employees, who will retain their roles and ensure uninterrupted service.
The principal shareholders of Torcan Lift Equipment become shareholders of LOU-TEC., Joe Picao, President of Torcan Lift Equipment, remains in his position.
“This is a great opportunity to develop a strong relationship with the LOU-TEC team,” said Picao. “Together, we’ll be able to offer an impressive fleet of equipment, cover a larger territory and respond effectively to the growing needs on construction sites.”
