en.Wedoany.com Reported - Swedish access equipment manufacturer Alimak has announced the acquisition of Canadian private company Pro-Bel, a supplier of suspended platforms, fall protection equipment, and other products. Headquartered in Ajax, Ontario, Pro-Bel traces its roots back to 1978, when CEO Marc Lebel founded Pro-Bel Services, a high-rise window cleaning company. Noticing that most buildings lacked adequate safety equipment or anchor points, leading to high accident rates, he began designing and manufacturing roof anchors, gradually laying the foundation for the current business.
The company currently employs approximately 140 people, with a product line covering roof anchors, davit arms, horizontal lifelines, monorail systems, and building maintenance units (BMUs), among other access and safety solutions for working at height.
In the last fiscal year, Pro-Bel generated revenue of CAD 69 million (USD 49 million) and earnings before interest and amortization of CAD 24 million (USD 17 million). Under the terms of the transaction, the enterprise value of the acquisition is CAD 200 million (USD 142.4 million), on a cash-free, debt-free basis. 88.5% of the enterprise value will be paid upon completion of the transaction, with the remaining amount payable after 18 months. The acquisition will be financed through existing credit facilities and is expected to close later this month.
Marc Lebel will remain with the company during a transition period to assist with integration, ensure customer continuity, and facilitate knowledge transfer. Pro-Bel's operations will be integrated into Alimak's Façade Access division.
Alimak CEO Ole Kristian Jødahl stated that Pro-Bel is a strong strategic fit, helping to further diversify the business and enhance resilience. The acquisition will strengthen Alimak's market position in North America, expand its product line, and add a business with a long track record of high profitability. Post-merger, the company expects to better create value for customers and achieve profitable growth.
Marc Lebel added that the company is pleased to join the Alimak Group as part of a global leader in access and safety solutions, and believes there is strong alignment in long-term vision, customer focus, and commitment to quality and safety.
