Lou-Tec, a leading equipment rental company in the province of Québec since 1979, is continuing its growth strategy by acquiring MKS Équipements, a company specialized in lifting and handling equipment in Jonquière. This acquisition, the third for Lou-Tec in less than a year, will allow the company to serve a new clientele in the Saguenay Lac-Saint-Jean region, thus strengthening its position in the tool and equipment rental industry in Québec.
MKS Équipements has grown steadily since its founding in 2016 and has built an excellent reputation in the Saguenay region, the company said. Its success is based on its service and the strong relationships it has created over the years. This transaction allows Lou-Tec to add qualified employees to its team and to have a strategic point of service to develop this new territory. The branch will continue its work as MKS Équipements and eventually become known LOU-TEC Elevation.
“We are pleased to welcome MKS Équipements team to Lou-Tec,” said Jean-Marc Dallaire, president and CEO of Lou-Tec. “Our two companies share the same vision to offer personalized customer service and a desire for continuous improvement. We have already had the opportunity to collaborate on many occasions for requests from our customers in that sector. This association will be advantageous, enabling us to serve our customers more effectively, helping them carry out projects on construction sites in this booming region.”
The advantage for MKS Équipements’ current customers will be to have access to a greater diversity of lifting and handling equipment from the largest and newest fleet in the industry in Québec. Now with 28 locations in Québec and Ontario, Lou-Rec we can offer customers a more complete service on all job sites throughout the province. This transaction is being carried out with the full cooperation of MKS Équipements’ current management and employees who will maintain their respective roles and ensure an efficient and gradual transition. Marco Simard, president of MKS Équipements, will continue to supervise the Saguenay branch in addition to holding the position of regional sales manager at Lou-Tec.
“Lou-Tec is a standard in the field of equipment rental in Quebec and we are delighted to partner with a solid and innovative company to strengthen our competitiveness and growing demands in the Saguenay region,” said Marco Simard, president of MKS Équipements.
Experiencing rapid growth, Lou-Tec remains on the lookout for opportunities to realize the company’s vision of becoming a major player in the equipment rental industry across Canada. The company can count on the support of its financial partners, Sagard Private Equity Canada, Walter Capital Partners, Investissement Québec, BDC Capital’s Growth Equity Partners and the Fonds de solidarité FTQ, to support its expansion into new territories as well as various projects that will allow it to stand out from the competition, particularly in terms of technology.