Toromont provides brand-name equipment and comprehensive product support (including parts and lifetime service) to thousands of customers in essential industries from roadbuilding to mining and telecommunications to food and beverage processing. They are differentiated by their market-leading equipment brands, extensive parts, service and remanufacturing capabilities, skilled workforce, disciplined adherence to their corporate values, and the empowerment created by their proven business model.
Toromont sells, rents, and supports equipment provided by world leaders including Caterpillar as an authorized dealer in attractive geographic territories – their brand relationships and extensive service network provide competitive barriers to entry. Through seven Toromont businesses, they generate diversified revenue with exposure to both capital and operating spending cycles.
Toromont Industries’ informational technology infrastructure powers a variety of digital capabilities including analytics and insights (“AI”), applications to remotely monitor equipment and various management, sales and marketing tools including ecommerce sites all of which strengthen their customer-service capabilities and add to their revenue growth opportunities and business efficiency/productivity.
Their principal strategies are long-term in nature and have proven their worth over decades: expand market offerings, strengthen product support, broaden product offerings, invest in their resources, and maintain a strong financial position. Their sole business is providing customers with specialized capital equipment and lifetime product support as a means of serving their needs and generating steady financial performance for shareholders.
Toromont’s decentralized management approach of authority with accountability for capital allocation decisions has fostered strong business unit leadership and responsive decision-making. The company’s belief in conservative leverage provides Toromont with the financial flexibility to pursue growth opportunities. Their skilled Board of Directors provides disciplined stewardship of every key aspect of their company using an Environmental, Social and Governance framework and oversees Toromont’s experienced leaders: over 45% of their senior executive team has served their company for over 20 years.