Heavy Equipment Guide Logo

This ad will close in 15 seconds

Nors acquires Strongco

Strongco has approximately 500 employees serving customers from 26 branches in Canada

Nors acquires Strongco

Strongco and Nors have entered into a definitive agreement in which Nors will acquire Strongco for approximately CAD$193 million. Under the terms of the agreement, Nors will acquire all of the outstanding equity of Strongco for CAD$3.15 per share in cash, including Strongco's net interest bearing debt.

Strongco is a major multiline mobile equipment dealer with operations across Canada that sells, rents and services equipment used in diverse sectors such as construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry. Strongco has approximately 500 employees serving customers from 26 branches in Canada.

Robert Beutel, Executive Chairman of Strongco, commented: "As Strongco moves to enhance its product and service offerings in Canada we are pleased to become part of the Nors Group. Nors' international experience and capital foundation, in many of the same product lines on four continents, brings the know­ how and experience to elevate our potential to deliver leading edge quality to our growing customer base in an increasingly global environment. The Strongco board is confident that this represents a favourable outcome for all of our stakeholders."

Company info

1640 Enterprise Road
Mississauga, ON
CA, L4W 4L4

Website:
strongco.com

Read more

Related Articles

Sponsored Brought to you by: Bobcat Company Logo

THE BOBCAT E88: STRENGTH IS ON YOUR SIDE

As one of the latest models in the R2-Series excavator lineup, the Bobcat® E88 delivers durability, performance and quality for more productivity. Technically speaking, it's a compact machine, but it brings big performance with its redesigned engine and optimized lift performance, plus undercarriage and counterweight improvements. All these enhancements make this excavator one of the highest-performing models in its size class. With impressive over-the-side lift capacity, you can dig with greater confidence over the side of the machine. Put it to the test against similar models from other manufacturers. You'll see that the E88 can outwork the competition.

Learn more