Quebec tool and equipment rental giant LOU-TEC made a second acquisition this year, this time getting its hands on YEP Equipment Rental.
This new purchase, the terms of which have not been disclosed, allows LOU-TEC to add four service points and a distribution center to its network. The purchase of YEP also includes around 3,500 tools and equipment, while the company has around 70 employees.
These are expected to swell the ranks of workers at LOUT-TEX, which already has more than 500 employees.
“We are very pleased to welcome the YEP Equipment Rental team to the big LOU-TEC family. It is a competent and experienced team that adds to the one already in place. We want to unite the strengths of the two companies and draw inspiration from best practices in order to build a common vision for the future,” said Jean-Marc Dallaire, President and Chief Executive Officer of LOU-TEC, in a press release.
< p>For his part, the managing director of YEP, Marco Fortin, suggested that the merger of the companies was a logical step, given the collaboration that already existed between the two companies.
“C t 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,” he said.
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