One Ontario firms acquires another
By Keith Norbury
By Keith Norbury
An Ontario rental company, whose catalogue includes a pair of small cranes, has been acquired by Toronto-based Cooper Equipment Rentals Ltd.
Cooper announced in October a definitive share purchase agreement to acquire Mississauga-based SMS Rents, a division of SMS Construction and Mining Systems Inc. The expected closing date of the deal was Dec. 31.
Halifax-based SeaFort Capital, a private investment firm, is backing Cooper, a news release said. SeaFort had in 2012 acquired A.W. Leil Holdings, which owns three crane companies in the Maritimes. The next year, Leil bought Partners Cranes.
Established in 1972, Cooper has six full-service rental equipment locations in Greater Toronto, from Burlington to Scarborough, and has about 100 employees, the release said.
A search of “crane” on the Cooper website did not return results. However, a search of “hoist” produced hits for two- and three-ton chain hoists and an electric hoist.
According to the SMS Rents website, its rental catalogue includes a Broderson IC-80 industrial crane with maximum sheave height of 46 feet, and a Spydercrane URW295 crawler crane with a maximum sheave height of 29 feet. The catalogue also includes several telehandlers as well as manual chain hoists.
Established in 2003, SMS Rents employs more than 200 people and has 15 branches in Ontario and Quebec. The company is part of the Sumitomo Corporation Group.
“By combining SMS Rents and Cooper, we are creating a strong Canadian business with considerable scale,” the release quoted Cooper CEO Darryl Cooper. “Each of our 21 full service branches employs a highly skilled and knowledgeable team and offers a specialized fleet comprised of category leading brands.”