Toromont Industries Ltd. is a diversified industrial company that primarily operates as a major distributor of heavy equipment and power systems. The company's business model is structured around two core segments: the Equipment Group and CIMCO. The Equipment Group is the primary revenue driver, accounting for approximately 91% of total consolidated revenue. This segment operates as one of the largest Caterpillar dealerships globally, with exclusive territories spanning several Canadian provinces—including Ontario, Quebec, Manitoba, Newfoundland and Labrador, Nova Scotia, New Brunswick, and Prince Edward Island—as well as Nunavut and parts of the United States. Through this segment, Toromont sells, rents, and provides comprehensive product support and aftermarket services for mobile and stationary machinery used in road building, mining, aggregates, public infrastructure, and power generation. The recurring revenue from parts and services forms a highly profitable and stable component of this segment's operations.
The CIMCO segment, which generates the remaining 9% of revenue, specializes in the design, engineering, fabrication, installation, and after-sale support of industrial and recreational refrigeration systems. CIMCO serves a variety of end markets, including food and beverage processing, cold storage, and recreational ice rinks across North America. Toromont's competitive position is underpinned by its long-standing relationship with Caterpillar, its extensive geographic footprint, and its robust aftermarket service network, which ensures customer retention and lifecycle support for the equipment it distributes.
