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Headquarters: Lachine, QC, Canada
2013 Revenues: $371 million
Key Executives: Mark Foote, president and CEO; John Hamilton, CFO
Wajax Industrial Components serves Canadian markets with its portfolio of mobile equipment, power systems and industrial components. Its customer base spans natural resources, construction, transportation, manufacturing, industrial processing and utilities. In 2012, Wajax purchased six branch locations from Kaman Industrial Technologies, with revenues of about $21 million. Before completing that acquisition, Wajax Industrial Components formed a strategic alliance with Kaman to target North American parts-supply contracts. The alliance will operate as Sourcepoint Industrial.
At the start of 2013, President and CEO Mark Foote said he expected continuing weakness in oil and gas markets in Canada and delays in mining investment decisions, as well as the loss of LeTourneau distribution rights, to create challenges for the distributor in 2013. “Quoting activity for mining remains very active in both Equipment and Power Systems. However, we do not expect meaningful improvement in the oil and gas market during 2013. As a result, we anticipate a weaker first half of the year relative to 2012.”
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