HydroSolution, the Quebec water heater expert, announced Thursday its acquisition by Enercare, the North American residential and commercial services and energy solutions company.
The company, which has a rental fleet of electric water heaters installed in various types of residences, assured Thursday that it will continue to operate in Quebec under the same name, with the same management team and employees.
“With this transaction, we can count on the expertise of a Canadian industry giant to accelerate our market growth strategy,” said Nicolas Ayotte, President and CEO of HydroSolution, in a press release.
For HydroSolution, this transaction marks “the beginning of a series of positive transformations for the business models of both companies”. The company believes this acquisition also “responds to the evolving needs of customers as well as the innovation demands imposed by new market realities.”
Enercare serves approximately 1.6 million customers, mostly residential customers, in Ontario, Alberta and other locations in Canada.