LOU-TEC Continues its Growth Strategy with the Acquisition of YEP Location D’équipements
MONTREAL, October 25, 2022 — LOU-TEC, the leading heavy equipment rental company in Quebec, continues to expand and solidify its position in heavy machinery, tool, and specialized equipment rental through the acquisition of Quebec-based YEP Location d’équipements (“Yep”). 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 over 70 experienced employees and an inventory of more than 3,500 tools and equipment at four service points and one distribution centre between Sherbrooke and Montreal. The company has a strong reputation for the quality of its equipment, its operational efficiency, and its customer service. 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. 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,” said Jean-Marc Dallaire, president and CEO of LOU-TEC.
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, high standards. Marco Fortin, General Manager of YEP, commented “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 the country. The company can count on 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.
ABOUT LOU-TEC
Founded 43 years ago, LOU-TEC is a Quebec-based company that is a lead player in heavy machinery, tool, and specialized equipment rental. It has 33 business locations in Quebec and Ontario, the most recent being in Drummondville. LOU-TEC employs more than 500 employees who are committed to providing flawless service and safe and efficient equipment. The company is always on the lookout for new trends, constantly investing in new equipment and advanced technology. LOU-TEC won the “successful business strategies” and “business of the year” awards at the 2022 Les Mercuriades gala.
ABOUT YEP
YEP Location d’équipements originated from the merger of two major companies in the industry, Location Fleurimont Inc. and Location St-Jean. Founded in 1977, Location Fleurimont Inc. is well known in the Eastern Townships, and its exceptional growth has led it to open new points of service. In 2006, Location St-Jean entered the market and expanded rapidly, becoming a strong and influential family business. In 2019, the two companies joined forces under the new YEP Location d’équipements banner in 2021. The company has a strong reputation, five business locations, and a dynamic team of more than 70 employees who provide outstanding service to its customers.
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For more information, please contact:
Sébastien Lachaine
C: 514 794-6127 / [email protected]
Read the article on La Presse HERE: https://www.lapresse.ca/affaires/entreprises/2022-10-24/lou-tec-effectue-une-autre-acquisition-en-location-d-equipements-et-d-outils-de-chantiers.php