After working together often, two suppliers in Quebec to make aluminum, rail, pulp and paper decided to merge to form EPIQ Machinerie, a new company that would be based in Saint-Bruno-de-Montarville.
EPIQ Machinerie will enable its two components, Mecfor and Advanced Dynamics, to reach a critical size to make acquisitions and continue to grow, explains Mecfor President Eloïse Harvey, who will become CEO of the new company.
Mecfor was founded in 1997 and Advanced Dynamics has been around since 1965. The two companies are equal in size, serving the same customers in the core aluminum, rail, pulp and paper sectors, offering them tailored products. “We have often had the opportunity to work together internationally, in Brazil, Qatar, UAE and Bahrain,” explains Eloïse Harvey.
“We have the same vision and the same goal, which is to build an innovative Canadian company with a critical mass that will allow us to expand internationally,” she explains.
Once Mecfor and Advanced Dynamics are combined, it will form a company with annual revenues of over 55 million, 75% of which are generated internationally. The director confirmed that the existing facilities of the two companies, which employ 200 people in Saguenay and Saint-Bruno-de-Montarville, would be maintained and revitalized after the merger. The new company, called EPIQ for Excellence and Performance Industrials Québec, includes the Advanced Dynamics production site in India.
Mecfor’s major shareholder, SeaFort’s private investment fund, will remain the largest shareholder in the new entity with 53% of the shares, the rest being held by employees.
The two companies that unite their destinies are growing, but they have slowed because of their employability, Eloïse Harvey points out. Together, they will be able to offer more interesting jobs and attract talent. “We are already moving toward acquisition targets to continue consolidation,” she said.