Harper Power Prods sold for $22M
TORONTO — Industrial components and power systems supplier Wajax Corp. has bought truck engine and generator distributor Harper Power Products for $21.6 million.
The deal does not include the truck dealer Harper Truck Centers in Toronto, nor Harper’s Thomas Built Bus business.
Harper is an authorized distributor for Detroit Diesel, Mercedes-Benz, and Allison transmissions.
"Through Harper’s established business, we are gaining a significant presence in the Ontario market where we previously had limited coverage," Wajax president and CEO Neil Manning said in a statement.
"It also represents a major step towards attainment of the division’s strategic objective to become a national total power systems solution provider."
Harper Power had adjusted annual sales of about $71 million, Wajax said.
Wajax said the business will be re-branded as Wajax Power Systems.
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