Toromont to acquire heavy rentals specialist

Canada-based rental company Toromont Industries, owner of Caterpillar dealer Toromont Cat, has announced the acquisition of Tri-City Equipment Rentals. The purchase price of the transaction has not been disclosed.

Founded in 1988 and based in Ontario, Canada, Tri-City Rentals is a heavy equipment rentals specialist with operations across the Southwest of the region. 

Tri-City Equipment Rentals will continue to operate as a seperate business, with its president Jeff Armishaw set to join the Toromont team as a strategic advisor upon completion of the deal. 

According to Toromont Cat, the move will “support business continuity and provide opportunities to learn and share best practices across our newly aligned organisations.”

It said, “We enter this next phase of our heavy rental business with a great deal of collective excitement and passion. We are confident that the combined rental fleets and teams will deliver industry leading solutions and options for your rental needs.”

Mike McMillan, president and CEO of Toromont, commented, “The heavy equipment rentals market is a long-term strategic focus area for us. This acquisition expands our Toromont Cat heavy rents business to better serve and expand our customer base and provides a rental hub in the southwestern Ontario region. We are pleased to welcome the Tri-City Equipment Rentals team to the Toromont family.

McMillan added that Armishaw joining as strategic advisor will “enable a smooth transition and support business continuity going forward for our customers and new team members.”