Group Simoneau has acquired Sterling Combustion, one of its first collaborators and distributors based in Georgetown, ON, and renamed the business Simoneau & Sterling Inc. The acquisition is part of Quebec-based Group Simoneau’s plan to enter new markets in Canada and the U.S.
“When we acquired Gaz Métro Plus subsidiary Servitech Énergie in 2013, our aim was to grow our market share in Québec and to develop the equipment-leasing field,” said Nancy Simoneau, president of Group Simoneau. “The Sterling acquisition marks a new step in Group Simoneau’s development. We want to explore new markets and to move into areas of expertise that complement our own. The Ontario market currently accounts for about 10 per cent of our revenues. We want to grow this to 25 per cent and to develop new markets, especially in the United States, starting with Chicago and New York City.”
