PFM & BDC Invest in West Coast Machinery Inc.
Regina, Saskatchewan – PFM Capital Inc. (“PFM”) and BDC Growth Equity Partners (“BDC”), along with minority co-investor BMO Capital Partners (“BMOCP”), are pleased to announce the strategic acquisition of West Coast Machinery Inc. (“WCM”). WCM is a leading manufacturer and distributor of custom service truck bodies and hydraulic excavator attachments through its two operating divisions, Work Truck West and ShearForce Equipment.
Founded in 1973, WCM is headquartered in Langley, British Columbia, with locations in Leduc, Alberta, Airdrie, Alberta and Strathroy, Ontario. WCM primarily services customers in the construction, mining, forestry, and municipal sectors. The Company operates across North America and is recognized for the quality of its products, strong customer service, and comprehensive aftermarket support. Work Truck West specializes in designing and building customized medium-duty service trucks and equipment tailored to customers’ specific needs across a wide range of industries. ShearForce is a leading service provider and distributor of hydraulic excavator attachments.
“We are proud of our history and the leading position we have established in the excavator attachment and truck equipment markets. This partnership represents an exciting step forward for ShearForce and Work Truck West, enabling us to accelerate growth and expand our presence across both divisions,” said Brad Dewit, President of ShearForce Equipment and Work Truck West.
As part of the transaction, all members of the senior management team will remain in their roles and retain meaningful ownership interests in the business, ensuring continuity and alignment as WCM moves into its next phase of growth.
“We are proud to partner with the team at WCM and we look forward to building on the impressive reputation the Company has built across both of its operating divisions,” said Jeff Linner, Chief Investment Officer at PFM Capital. “This investment reflects our commitment to partnering with talented management teams, and we are pleased to support the Company’s commitment to quality, reliability, and customer service as it enters its next phase of growth.”
“The Company’s strong reputation and operational experience stand out in the marketplace and reinforce the opportunity ahead,” said Hanz Gin, Managing Director at BMO Capital Partners. “We look forward to continuing our partnership.”
“We’re very excited to have closed this transaction alongside our partners PFM and BMOCP and we look forward to working with WCM’s management team to drive the business through its next stage of growth,” said Constantine Hatzipanayis, Partner at BDC Growth Equity. “We see significant opportunities to build on WCM’s strong foundation to become a Canadian leader in these sectors.”
About West Coast Machinery
West Coast Machinery Inc. is a leading Canadian provider of equipment solutions, specializing in the manufacturing and distribution of custom service truck bodies and hydraulic excavator attachments. Founded in 1973 and headquartered in Langley, British Columbia, the Company operates through its two divisions, Work Truck West and ShearForce Equipment, delivering high-quality, tailored equipment to customers across construction, mining, forestry, and municipal sectors throughout North America. For more information, please visit https://www.worktruckwest.com/ | https://www.shearforce.ca/
About PFM Capital
PFM Capital Inc. is a leading Saskatchewan based private equity investment firm with over $930 million in assets under management across several funds. Based in Regina, Saskatchewan, PFM’s niche focus allows investors to benefit from the Prairies’ economic strengths by taking advantage of the firm’s established local contact network and long-term track record. PFM is employee-owned and has been managing private equity and venture capital funds since 1993. For more information, please visit www.pfm.ca
About BDC Growth Equity Partners
BDC Growth Equity Partners is a division of BDC Capital, the investment arm of the Business Development Bank of Canada (BDC). With over $8 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. For more information, please visit www.bdc.ca/capital
About BMO Capital Partners
Established in 1998, BMO Capital Partners is a Canadian-based investor with $2.1 billion under management. Its evergreen investment program is built upon growth equity and venture capital funds, minority equity co-investments, and sub debt. BMO Capital Partners invests across a broad range of industries to support companies in all stages of growth, with acquisitions, buyouts, expansions, restructurings and growth capital.
