Markham, ON, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Enercare Inc. (Enercare) is pleased to announce that it has signed an agreement to acquire HydroSolution, L.P. (HydroSolution), Quebec’s leading provider of water heaters, heat pumps, electric vehicle charging stations and other equipment for the home. Closing of the acquisition is subject to certain customary conditions.
The transaction marks Enercare’s first investment in Quebec, where HydroSolution serves more than 275,000 customers and is the largest provider of electric water heaters and related home energy services. The move complements Enercare’s core offering of affordable and sustainable products and services. Together, Enercare and HydroSolution enable customers to have the most efficient, sustainable and affordable heating, cooling and water heating products.
“Today’s announcement is a tremendous milestone for Enercare and HydroSolution, one that signals our shared commitment to growth, sustainability and exceptional customer service,” said Nick Perreten, Enercare’s Chief Revenue Officer. “Together, Enercare and HydroSolution will unite and grow our expertise to meet the evolving needs of Canadian home and building owners.”
HydroSolution was founded in 1958 and has deep roots operating in Quebec. The HydroSolution brand is renowned for its outstanding customer service and will continue to service its loyal customers throughout the province of Quebec. It will continue to operate in Quebec under the same name, with the same senior management team and approximately 100 employees.
“The satisfaction of our customers and the opportunities for our employees were at the heart of this decision. With Enercare, we have the means to achieve our ambitions and can now count on the know-how of a Canadian industry leader to accelerate our growth strategy in the market,” says Nicolas Ayotte, President and CEO of HydroSolution.
“We believe that sustainable growth is built on earning trust and a shared focus on serving customers for the long-term. As we expand our business, we are investing to advance the best, and most affordable sustainable options on the market—creating a win-win for consumers, industry, and Canada’s environment”, said John Peri, Enercare President and CEO.
Enercare’s announcement follows other strategic acquisitions in recent months, including Syles Mechanical, a long-time commercial home services provider serving southwest Ontario, and Elite Heating, with deep roots in Edmonton.
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ABOUT ENERCARE INC.
Enercare Inc. (“Enercare”) is headquartered in Markham, Ontario, Canada, and is one of Canada’s largest home and commercial services companies. Serving Canadians for over 60 years, we are a leading provider of water heaters, water treatment, furnaces, air conditioners and other HVAC equipment and related services. With growing operations across Canada, Enercare serves customers in Alberta, Manitoba, New Brunswick, Ontario and Saskatchewan. For more information on Enercare, visit www.enercare.ca.
ABOUT HYDROSOLUTION
For more than 65 years, HydroSolution has been a market leader in offering a turnkey service for the rental, sale, installation, and maintenance of water heaters. HydroSolution’s rental fleet of electric water heaters can be installed in multiple types of residences, including single-family houses, condominiums, multiplexes, and apartments. HydroSolution is the only company in Quebec to offer a turnkey rental service for wall-mounted heat pumps. The company also provides leak detection systems and home charging stations for electric vehicles. For more information on HydroSolution, visit https://www.hydrosolution.com/en/.
For media inquiries
Nick Perreten
Chief Revenue Officer
Enercare Inc.
Email: nick.perreten@enercare.ca
