WDC Client Gincor Werx Closes Purchase of Drivetec Manufacturing

Drivetec is the first of many acquisitions expected to be completed by Gincor Werx in the coming years.


TORONTO, Oct. 3, 2022 /CNW/ - Gincor Industries Inc. ("Gincor Werx") is very pleased to announce the recent acquisition of Drivetec Manufacturing Ltd. ("Drivetec") effective October 1st, 2022. Drivetec brings expertise in service of hydraulics, drivelines, suspension systems, vehicle alterations as well as distribution of key components to the truck and trailer industry. This is an exciting opportunity for both companies to join forces while providing a greater service, new solutions and offerings to existing clients and new clients.


Luc Stang, President and CEO of Gincor Werx shared his thoughts on the recent acquisition by noting that, "Drivetec has a solid reputation for providing parts and service which will align well with our growth strategy moving forward. The geographic presence provides more flexibility for our customers meeting their needs closer to home. We are pleased to have this new group of employees be part of the Gincor Werx family. I am confident that both Gincor and Drivetec will deliver a greater client experience and that is our intention. Our principals and best practices will not waiver while we aspire for new ways to collectively improve and provide a well-rounded customer experience. We continue to seek out highly synergistic acquisitions throughout Canada and the U.S. to drive our strong organic growth."


Rheal Duprey, President & Founder of Drivetec, remarked, " I am very pleased to have an organization such as Gincor acquire Drivetec. I feel that both organizations share the same philosophy when it comes to providing exceptional customer service. Gincor's more than 40 years in the industry and reputation for delivering a premium product will align well with Drivetec's existing client base. I would like to thank all the staff for their hard work and dedication over the years and take comfort that they are in good hands with the Gincor team moving forward."


WD Capital (www.wdcapital.ca) acted as M&A Advisor to Gincor Werx. and Wildeboer Dellelce, LLP (www.wildlaw.ca) acted as legal counsel to Gincor Werx.


About Gincor Werx

With four decades of experience and expertise in the custom manufacturing of vocational vehicles, Gincor Werx is an industry leader known for its quality workmanship and technical innovation. Our product offering includes dump bodies, snow and ice equipment, flat decks, and van bodies. Our trailer offering includes heavy haul, equipment, tag, step deck, and live bottom trailers. The acquisition of Durabody Industries in 2015 marked the beginning of rapid growth for the corporation with the ultimate goal of strengthening its overall product portfolio. The acquisition of JC Trailers in 2016 followed by opening Gincor Trailer Werx in 2017 greatly enhanced our product offering to an already solid industry identity.


Related Links www.gincor.com www.drivetec.ca


SOURCE: Gincor Werx


For further information: Brian Jagger, Director, Human Resources, People & Culture, Gincor Industries Inc., brianjagger@gincor.com, (905) 715-4796; Michael Caunter, National Brand & Marketing Manager, Gincor Industries Inc., michaelcaunter@gincor.com, (289) 383-2206