Competition Bureau Clears Pending Sale of Hewitt to Toromont

/EINPresswire.com/ -- POINTE-CLAIRE, QUEBEC--(Marketwired - Oct 22, 2017) - The Hewitt Group ("Hewitt") announced today that the pending sale of its business to Toromont Industries has been cleared by the Competition Bureau. This marks the completion of an important milestone in the transaction's proceedings.

"We are pleased to complete a major step toward finalizing this transaction, which we believe will benefit our Customers and Employees", said Jim Hewitt, Chairman and CEO of Hewitt. "We continue to work closely with the Toromont team to bring the transaction to closure."

The transaction is expected to be completed following close of business on Friday, October 27^th.

Until completion of the sale, it is business as usual for all employees and for customers of both companies. Hewitt and Toromont will continue to work together to ensure a smooth transition.

Following the transaction's closing, Toromont has stated that they intend to invest in people, facilities and technology as well as rental fleets and also expect to maintain existing facilities.

About Hewitt Equipment Limited

Hewitt is the authorized Caterpillar Dealer for the province of Québec and Western Labrador, and, since 1995, through its subsidiary, Atlantic Tractors & Equipment Ltd., is also the Cat Dealer for the Maritime Provinces. With headquarters in Pointe-Claire and 45 branches, the Hewitt Group sells, rents and services the full line of Caterpillar products through four divisions: Heavy Equipment, Material Handling, Energy and Truck. Hewitt's other subsidiaries are: Hewitt Material Handling Inc. (Ontario), Hewitt Rentals Inc. (Québec, Western Labrador and the Maritimes), Montréal Hydraulique Inc. and SITECH QM. The Company is also the dealer for Maschinenbau Kiel GmbH (MaK) for Québec, the Maritimes, and the Eastern seaboard of the United States, from Maine to Virginia. The Hewitt Group employs more than 2,000 people across Eastern Canada.