Lou-Tec acquires in Canada
By Lewis Tyler11 November 2022
Canadian rental company Lou-Tec has acquired Yep Location D’équipements, its second acquisition this year following the deal in June to buy Accès Location+.
Founded in 1977, Yep is a based at Saint-Jean-Sur-Richelieu in Quebec and has more than 70 employees and five branches, all in the province of Quebec.
The deal is part of Lou-Tec’s growth plan following its acquisition last year by private equity firm Sagard.
Following the acquisition of Yep, which has an inventory of over 3,500 tools and equipment, the company will operate under the name of Yep Equipment Rentals.
According to Lou-Tec, the deal means it can continue to “expand and solidify its position in heavy machinery, tool, and specialised equipment rental” as it aims to “consolidate the equipment rental market in Quebec.”
Jean-Marc Dallaire, president and CEO of Lou-Tec, said: “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,”
No changes to the leadership structure of Yep Rental Equipment will be made following the acquisition.
Marco Fortin, General Manager of YEP Equipment Rental, added; “This is a great opportunity to develop a solid relationship with the Lou-Tec team with whom we have collaborated on many occasions.
“Together, we will be able to offer an impressive fleet of equipment, cover a larger territory and respond effectively to the growing needs on construction sites”.