Simplex Equipment Rental Inc., a family-owned Quebec company specializing in tool and equipment rentals for all types of construction projects, as well as for the industrial, manufacturing, government, events, and film sectors, announced the acquisition of Skytec Rentals Inc. a privately-owned equipment rental company specializing in aerial work platforms, located in Hamilton, Ontario. This is Simplex's largest acquisition in 116 years and lays the groundwork for its expansion plans in Ontario.
Skytec was founded in 2012 by equipment rental experts with over 20 years of experience in the field. The company is expanding rapidly and employs around 40 people. It is recognized for its customer-centric approach and respect for people. Its customers operate in a wide range of sectors, including construction and industry. It offers products manufactured by Genie, JLG, MEC and Skyjack, and continues to expand its equipment inventory to provide customers with high-performance products that have proven their worth in the marketplace. Skytec serves the golden horseshoe, including the regions of Niagara Falls, London, Toronto, Barrie, Georgetown, Orangeville, Peterborough, Oshawa and Belleville.
"We are very proud of this acquisition not only because Skytec is a very well-run company, but also because we share with its team common values and a business vision focused on customer needs and employee well-being. This transaction is in line with our development plan, which includes acquisitions. It will certainly help strengthen our leadership position in the Canadian tool and equipment rental market, accelerate our growth in Ontario, and provide our customers with a superior product offering," said Euclide Véronneau, President of Simplex Equipment Rental Inc.
"From the very first meetings, the chemistry was quickly established! We're very excited to be joining Simplex and combining our strengths with a team that's like us and that's respected in the Canadian industry. We are convinced that this transaction will be beneficial not only for our two organizations but also for companies looking for specialized equipment," said Frank Tam, CEO, Skytec Rentals Inc.
A growing market
Simplex intends to capitalize on the strong growth potential of the construction sector and many other industries in Southern Ontario and the Greater Toronto Area, one of North America's largest markets. The company is also looking to expand its presence in the major events and film industries, sectors in which it is already very active in Quebec.
With the completion of this transaction, Simplex has become the 100 percent owner of Skytec. No changes are planned within the company, which will retain its brand name, given the reputation it has acquired in its market. All jobs are being maintained, and Simplex even plans to make several new hires to support Skytec's development.
Founded in 1907, Simplex Equipment Rental employs some 550 people and has 35 branches in Quebec and Ontario.