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Wajax Corp., Toronto, Canada, announced that its Wajax Power Systems division has acquired Harper Power Products Inc. for $21.6 million. For the year ended Dec. 31, 2010, Harper had adjusted annual sales of about $71 million.
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Wajax Power Systems will assume the operation of Harper’s 10 branches in Ontario in Toronto, Ottawa, Hamilton, London, Sudbury, Timmins, Kingston, Cornwall, Niagara Falls and Pembroke. Harper is the authorized Ontario distributor for Detroit Diesel, Mercedes-Benz, MTU and Deutz engines, MTU Onsite Energy generator sets and Allison transmissions.
With the exception of Deutz engines, Wajax Power Systems is the authorized distributor of these lines in the rest of Canada except for portions of British Columbia. This business will be rebranded as Wajax Power Systems.
The business and assets of Harper Truck Centers Inc., a separately operated on-highway truck dealer in the Greater Toronto Area, and Harper’s Thomas Built Bus business, were not included in the transaction.
Commenting on the acquisition, Neil Manning, president and CEO, said: “Through Harper’s established business, we are gaining a significant presence in the Ontario market where we previously had limited coverage. It also represents a major step towards attainment of the division’s strategic objective to become a national total power systems solution provider.”
Wajax is a diversified corporation with three core distribution businesses engaged in the sale and after-sales parts and service support of mobile equipment, industrial components and power systems, through a network of 118 branches across Canada.