04.11.2022

Another acquisition for Lou-Tec

Canadian rental company Lou-Tec has acquired Quebec based rental company YEP Location d’équipements.
It follows on from the acquisition of Accès Location earlier this year and is a key part of its strategy to consolidate the equipment rental market in Quebec.

Yep operates from five locations spread out to the east of Montreal in Saint-Rémi , Sherbrooke (Saint-Élie), Sherbrooke (Fleurimont), Saint-Philippe and Saint-Jean-sur-Richelieu. It employs around 70 staff, and runs a fleet of 3,500 machines and tools including aerial lifts, telehandlers and material lifts.

Lou Tec chief executive Jean-Marc Dallaire 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.”
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Marco Fortin of Yep (L) with Jean-Marc Dallaire of Lou-Tec

Yep’s management team was in full accordance with the acquisition and will remain on board to ensure continuity. Managing director Marco Fortin said: “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 says that it is looking for further acquisition opportunities across the country and is well supported by its financial partners, Sagard Private Equity Canada, Walter Capital Partners, Investissement Québec, BDC Capital, and Fonds de solidarité FTQ.

Yep was formed from the merger of Location Fleurimont and Location St-Jean in 2019. Founded in 1977, Location Fleurimont is well known in the Eastern Townships, while Location St-Jean was set up in 2006.