Toromont Industries Ltd.
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in mil. unless spec.Company Description
- CEO
- Michael Stanley Howie McMillan
- Full Time Employees
- 7,900
- Sector
- Industrials
- Industry
- Industrial - Distribution
- Address
- 3131 Highway 7 West Concord ON Canada L4K 1B7
- IPO Date
- Jan 5, 2010
- CIK
- 0002072098
- Website
- toromont.com
- Similar Companies
- Business
- Toromont Industries Ltd. (TSX: TIH) operates as a market-leading Canadian provider of specialized capital equipment and lifetime product support services to customers in essential industries including mining, construction, infrastructure, power generation, forestry, agriculture and waste management. The company functions through two primary segments: Equipment Group and CIMCO; Equipment Group sells, rents and services Caterpillar mobile equipment, engines for industrial, marine, on-highway trucks and power generation applications, high-efficiency power plants, brand-name rental equipment, construction supplies, tools, safety training solutions, machine control and site positioning technologies from Trimble and Cat AccuGrade, specialized tool crib rentals for trade contractors, and lift trucks, container handlers, industrial batteries, chargers and racking systems primarily across Eastern Canada in seven provinces and one territory; CIMCO designs, engineers, fabricates, installs and supports industrial and recreational refrigeration systems, thermal management solutions, heat pump systems and equipment using natural refrigerants for food and beverage processing, cold storage, mining, ice rinks and commercial markets in Canada and the United States. Founded in 1961 and headquartered in Concord, Ontario, Toromont generated over $5 billion in revenue in 2024 from more than 160 locations, with operations extending into the United States and select international markets. Recent strategic developments include the acquisition of Tri-City Equipment Rentals in September 2024 to expand heavy rental capabilities, the February 2025 investment acquiring 60% ownership of AVL Manufacturing Inc. for power generation and storage enclosures serving data centres across eastern North America with a commitment to purchase the remaining 40% by 2031, a Cdn$300 million private offering of 3.76% senior unsecured notes due 2030 in March 2025, quarterly dividend increases following strong 2024 full-year results, and a normal course issuer bid renewal in September 2024.
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