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Wajax Industrial Components acquires Ace Hydraulic

October 22nd, 2012

Wajax Industrial Components

Bathurst, New Brunswick facility enhances Wajax’s hydraulic repair and service capabilities in Atlantic Canada and Quebec

MONTREAL, QUEBEC (Oct. 22, 2012) – Wajax Industrial Components has acquired Ace Hydraulic Ltd. of Bathurst, New Brunswick in a transaction that will enhance Wajax’s hydraulic repair and service capabilities. The strategic acquisition will also augment Wajax’s ability to support mining, forestry and other industrial businesses throughout Atlantic Canada and the Quebec North Shore.

Ace Hydraulic was founded in 1987 and has steadily evolved into a fully integrated hydraulic facility, repairing hydraulic pumps, valves and motors, as well as rebuilding and fabricating cylinders with 1-to-24 inch bores. Hydraulic power units of all sizes are also built on demand. Ace Hydraulic supports a diverse list of regional clients including iron ore mines, original equipment manufacturers and forestry operations.

“Our objective is to be a total solutions provider in terms of product offerings, engineering capabilities and repair services,” said Marc Joanis, Director of Business Development and Marketing for Wajax Industrial Components. “Where we don’t have those capabilities, we are pursuing strategic acquisitions. We were attracted to Ace Hydraulic because it has a very good reputation in the marketplace for hydraulic repairs.”

Ace Hydraulic’s Bathurst location has 16 staff members, including NFPA-certified technicians, machinists, welders and millwrights who service all types of hydraulic and pneumatic equipment. Pierre Duguay has been appointed Branch Manager and Charles Guerette has been named Service Manager.

“I was extremely impressed with their attitude, drive and enthusiasm,” said Barry Sutherby, Vice-President - Hydraulic Systems and Services for Wajax Industrial Components, referring to the Ace Hydraulic team. “They are very passionate about what they do, and they have that ‘can-do’ spirit.”

As for Pierre Duguay, he goes on to add “Just like Wajax Industrial Components, we set high standards for ourselves and our customers. Now that we’re part of a sound and strongly managed national company like Wajax, we’ll be able to address more of our customers’ needs.”

The Bathurst, New Brunswick facility has doubled in size as recently as November 2011, adding 6,000 square feet of space. It features an array of modern equipment, including a Lagun 1600 horizontal-vertical milling machine, several Tos high production lathes and a 34 x 160 Mazak lathe capable of handling some of the biggest machining jobs in the industry. In addition, the facility has a nut buster that will deliver 150,000 in-lb of torque, allowing large hydraulic cylinders to be disassembled and assembled with ease. A 230-hp test bench delivers 5,000 psi at 60 gpm, making it possible to replicate the most demanding operating conditions.

Available hydraulic offerings will soon be expanded to include brands such as Eaton, Hawe, Schroeder, Magnetek and High Country Tek. The team’s existing skills will be enhanced with training in a broader range of products, Sutherby adds.

“I want to thank our employees, customers and suppliers for building Ace Hydraulic into what it is today,” added retiring President Leon Thériault. “I think this is a perfect fit for everybody.”

Wajax Industrial Components is a wholly-owned division of Wajax Corporation, a leading industrial distributor. Wajax is a Canadian business which has been in operation for 154 years. Its common shares are listed and traded on the Toronto Stock Exchange under the symbol “WJX”. Wajax Industrial Components has 57 branches nation-wide, employing more than 750 people, and represents such market-leading brands as Eaton, Hawe Hydraulics, Festo, Permco and Schroeder Industries. Globally sourced hydraulic products are also available under the Hy-Spec private label brand.

Wajax Industrial Components has 13 certified service and repair centres strategically located across Canada. More than 50 specialized engineers and technicians deliver value-added services such as design and fabrication, equipment selection, failure analysis, on-site support, and reverse engineering. Its customers are in sectors as diverse as mining and aggregates, oil and gas, primary metals, forestry, utilities and construction, to name a few.

For further information, please contact:

Marc Joanis
Director - Business Development and Marketing
Tel: (905) 288-2090

Barry Sutherby
Vice President - Hydraulic Systems and Services
Tel: (780) 955-5876

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October 22nd, 2012
Wajax Industrial Components acquires Ace Hydraulic

November 9th, 2011
Ace Hydraulic Ltd is Expanding!!

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