Lou-Tec, one of the leading heavy equipment rental companies in Quebec, continues to expand and solidify its position in heavy machinery, tool, and specialized equipment rental through the acquisition of Saint-Jean-sur-Richelieu, Quebec-based Yep Location d'équipements. This is Lou-Tec's second acquisition since the beginning of the year, following the purchase of Accès Location last June. It is part of the company's strategy to consolidate the equipment rental market in Quebec with five new business locations in the Eastern Townships and Montérégie regions.
Yep has more than 70 experienced employees and an inventory of more than 3,500 tools and equipment at four service points and one distribution center between Sherbrooke, Quebec, and Montreal. The new service points will make Lou-Tec's operations in the Sherbrooke area and on Montreal's south shore more efficient so it can better serve its clients.
"We are very pleased to welcome Yep to the Lou-Tec family,” said Jean-Marc Dallaire, president and CEO of Lou-Tec. “Yep has a highly skilled team and we are confident they will help support and drive the current and future success of our business. We want to unite the strengths of both companies and draw on best practices to build a shared vision, ensure the long-term viability of our services, and offer a promising future for all our employees."
The transaction was completed with the full cooperation of the current leadership of YEP, who will stay in their respective positions to ensure the company continues to serve its clients with its established standards. Marco Fortin, general manager of Yep, said. "This is a great opportunity to develop a strong relationship with the Lou-Tec team, who we've worked with many times in the past. Together, we'll be able to offer an impressive fleet of equipment, cover a larger area, and respond effectively to the growing needs at job sites throughout Quebec."
Lou-Tec is looking for opportunities to fulfill the company's vision of becoming a major player in the equipment rental industry across Canada. The company has support from its financial partners, Sagard Private Equity Canada, Walter Capital Partners, Investissement Québec, BDC Capital, and Fonds de solidarité FTQ, to help it expand into new markets and launch projects that will set it apart from the competition, particularly in terms of technology.
Founded 43 years ago, Lou-Tec is based in Anjou, Quebec, and is a leading player in heavy machinery, tool, and specialized equipment rental. It has 33 business locations in Quebec and Ontario, the most recent being in Drummondville, Quebec, east of Montreal. Lou-Tec won the "successful business strategies" and "business of the year" awards at the 2022 Les Mercuriades gala. The company is No. 23 on the RER 100.