RELAM, a lessor of railroad maintenance-of-way (“MOW”) equipment and portfolio company of Paceline Equity Partners, announced it has acquired Falcon Equipment, an equipment solutions and specialty truck company headquartered in Surrey, British Columbia. The acquisition furthers RELAM’s leading position in the hi-rail sector, represents its expansion in the Canadian market, and adds attractive new end markets, including Building Supply, Utility, Snow and Ice, and Municipality. Falcon will continue to be led by its current management team, with Dan Kielan remaining as President.
Founded in 1998, Falcon provides equipment for lifting, rail, snow and ice removal, and municipal and utility end markets across six full-service locations in Western Canada. The Company sells upfitted vehicles and has an established lease fleet of customized trucks. In recent years, Falcon expanded its operations in Edmonton, Alberta, in Regina, Saskatchewan, and in Winnipeg, Manitoba increasing its capacity to build more trucks annually. Falcon offers a full suite of services, including in-house design, engineering, fabrication, installation capabilities, maintenance, repairs, parts support, equipment rentals and leasing.
“I am thrilled to welcome the Falcon team to the RELAM family,” said John Roberts, CEO of RELAM. “Dan and I had a shared vision from the beginning of our discussions, which made the transaction smooth and successful. A significant portion of RELAM's leasing business comes from Canada today, and partnering with Falcon will enable us to better serve our existing clients by providing easier access to late-model maintenance-of-way equipment and hi-rail trucks. This partnership will provide Falcon with the necessary capital to enhance its existing rental and leasing programs while continuing to execute its organic and inorganic growth initiatives. I am excited to collaborate with the Falcon team to help shape the future of this powerful combination!"
"With RELAM as our long-term strategic partner, we are poised to supercharge our growth and broaden our market presence," added Dan Kielan, President of Falcon. "RELAM's renowned commitment to quality, customer service, and innovative solutions perfectly aligns with Falcon's core values and traits. This powerful partnership allows us to grow and focus in new areas and it enables us to support our existing markets and customers at a greater level. This sets the stage for Falcon's next expansion phase and ensures unwavering support for all of our customers and employees. I have full confidence that RELAM will not only meet but exceed our expectations."
The transaction follows RELAM’s acquisition of Wiskerchen Truck & Equipment and Wiskerchen Rental & Leasing in January 2023, which strategically expanded RELAM’s position in the hi-rail truck market. Like the Wiskerchen transaction, RELAM will introduce flexible rental and lease programs to Falcon’s customers and end markets designed to improve their cash flow and return on investment.