Portuguese firm Nors Group has finalised the acquisition of Great West Equipment, a prominent player in Canada’s heavy mobility and construction equipment sectors, for approximately $150 million.

This move significantly bolsters Nors’ foothold in Canada, a strategically vital market. Great West, renowned for its 11 branches in British Columbia and the Yukon, serves diverse industries such as mining.

With this acquisition, Nors Group’s Canadian operations now encompass 37 branches and over 750 employees, effectively covering more than 80 percent of the Canadian market from coast to coast. This marks a robust start to the new year, affirming Nors’ commitment to its growth strategy.

“We are very excited to welcome Great West Equipment to the Nors family, amplifying our presence in Canada, a market that has proven to be very relevant and strategic for the group. We believe that Great West Equipment will benefit from the global presence and growth momentum that Nors is experiencing, combined with our 90 years of experience, to improve its performance and promote its future growth,” says Tomás Jervell, group CEO of Nors.

“As part of the Nors Group, we now have access to resources that will enable us to elevate GWE’s ability to serve the territories in which we work. We remain committed to listening to our customers and growing alongside them,” says Colin Matejka, CEO of Great West.

This acquisition follows Nors’ initial foray into the Canadian market through the acquisition of Strongco over three years ago. Today, North America accounts for approximately 12 percent of Nors Group’s total sales, with an estimated turnover of $522 million in 2023.

Great West Equipment, with around 250 employees and a turnover of $245 million in the 2023 fiscal year, represents renowned equipment manufacturers such as Volvo Construction Equipment, Madill, Metso, Sennebogen, and Falcon, among others.

The strategic acquisition not only consolidates Nors’ position in Canada but also underscores its commitment to expanding its global footprint in the heavy mobility and construction equipment sectors.