Toromont Industries completed the acquisition of a 60% stake in AVL.

Toromont Industries, a Caterpillar construction equipment dealer and refrigeration systems designer, completed the acquisition of a 60% stake in AVL, a power generation and storage enclosures designer and manufacturer. Financial terms were not disclosed. "Enclosures for standby and prime power are part of an important and growing market segment in North America, which includes supporting leading technology companies data centre needs. This acquisition adds complementary capabilities to our product and service offerings, secures supply for our Toromont Power Systems business, and provides the opportunity to expand our market to other regions. We are pleased to welcome the AVL team to the Toromont family and we look forward to building our business together," Mike McMillan, Toromont President and CEO.