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Group Simoneau acquires Ontario-based Sterling Combustion
- October 19, 2016
- News Release
- Fabricating
Group Simoneau, a specialist in the design and manufacture of high-performance industrial boilers, has acquired Georgetown, Ont.-based Sterling Combustion. This acquisition marks an initial milestone in the growth plan Group Simoneau has adopted to strengthen its leadership position in the energy field. With this acquisition, the Quebec firm is aiming to be geographically closer to its customers and to penetrate new markets in the rest of Canada and the US.
Sterling Combustion has expertise that complements Group Simoneau's, especially with respect to equipment integration and hot-water systems, says the company. Sterling also handles distribution of Autoflame, a European product recognized in the market as innovative and efficient.
"When we acquired Gaz Métro Plus subsidiary Servitech Énergie in 2013, our aim was to grow our market share in Quebec and to develop the equipment-leasing field," says Nancy Simoneau, President of Group Simoneau. She added: "We are proud to say this is mission accomplished. The Sterling acquisition marks a new step in Group Simoneau's development. We want to explore new markets and to move into areas of expertise that complement our own. The Ontario market currently accounts for about 10 per cent of our revenues. We want to grow this to 25 per cent and to develop new markets, especially in the United States, starting with Chicago and New York City."
Sterling Combustion becomes Simoneau & Sterling Inc. Its Ontario facilities will be maintained and its staff numbers increased to ensure the same level of service, says the company.
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