Toromont Industries Ltd.
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Company Description
- CEO
- Michael S. H. McMillan
- Full Time Employees
- 7,900
- Sector
- Distribution services
- Industry
- Wholesale distributors
- Address
- 3131 Highway 7 West Concord ON Canada L4K 1B7
- IPO Date
- Mar 17, 1980
- Website
- toromont.com
- Similar Companies
- Business
- Toromont Industries Ltd. provides specialized mobile and stationary equipment, product support services, and refrigeration systems to customers in essential industries including mining, construction, infrastructure, power generation, forestry, aggregates, waste management, and food processing. The Equipment Group, one of the world's largest Caterpillar dealers, sells, rents, and services Caterpillar machinery and engines; supplies, constructs, and operates high-efficiency power plants through Toromont Power Systems; offers brand-name rental equipment, construction supplies, tools, and safety training via Battlefield Equipment Rentals; provides machine control, site positioning, and asset management technologies as a Trimble and Cat AccuGrade dealer through SITECH Eastern Canada; delivers tool crib rentals for industrial contractors via Jobsite Industrial Rental Services; and sells, rents, and supports lift trucks, container handlers, industrial batteries, chargers, and racking systems through Toromont Material Handling, with remanufacturing operations across multiple facilities including a new 143,000 sq.ft. centre in Bradford, Ontario. CIMCO designs, engineers, manufactures, installs, and services industrial and recreational refrigeration systems, heat pumps, and thermal management solutions using natural refrigerants to reduce energy consumption and emissions for municipal, ice rink, and industrial clients. Founded in 1961 and headquartered in Concord, Ontario, the company operates over 160 locations across seven Canadian provinces, Nunavut, and the United States, serving diverse markets from ports and utilities to data centres and petrochemical facilities. Recent developments include the September 2024 acquisition of Tri-City Equipment Rentals for $77.5 million to expand heavy equipment rental capabilities in southwestern Ontario; a February 2025 strategic investment acquiring 60% of AVL Manufacturing to secure supply of power generation enclosures for the data centre market and enhance eastern U.S. presence via a $60 million Charlotte, North Carolina facility expansion; the opening of a 143,000 sq.ft. Toromont Remanufacturing Centre in Bradford in May 2024 to boost component rebuilding capacity; expansion of Battlefield locations and integration of pump rentals in 2025; planned 2025-2026 construction of new facilities including a Québec City remanufacturing centre ($20 million), Brooklin, Ontario branch ($35 million), Toronto parts distribution centre, and a new corporate headquarters with Toromont Cat branch using mass timber for energy efficiency; launch of the Connect26 three-year growth plan targeting 18% ROE through market expansion, product broadening, and product support enhancements; and board additions of Ave Lethbridge and Paramita Das in November 2024 alongside 36 consecutive annual dividend increases, with the latest to $2.08 annualized in February 2025.
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