Tire distributor Groupe Touchette Inc. has acquired Fastco Canada, an aftermarket alloy wheel producer based mostly in Vaudreuil-Dorion, Que., simply west of Montreal.

Groupe Touchette, which is Canada’s largest homegrown tire distributor, mentioned the deal will “considerably” develop its service providing, whereas giving Fastco’s steady of manufacturers entry to new markets.

“Our collaboration opens new avenues for each firms and permits us to develop our product providing as a part of our strategic plan,” Nicolas Touchette, Groupe Touchette’s CEO, mentioned in a information launch.

Monetary phrases of the deal, introduced July 11, weren’t disclosed.

Montreal-based Groupe Touchette mentioned Fastco has been registering “vital” progress because it retains to the “forefront” in rising segments corresponding to electrical car wheels.

Fastco employs roughly 150 workers throughout its joint manufacturing plant and headquarters in Vaudreuil-Dorion, and at its Western Canada distribution centre in Airdrie, Alta. The corporate sells a variety of customized wheels and tire equipment, and has established wheel packages with a number of of Canada’s best-selling automakers, together with Hyundai, Mazda and Nissan, in line with its web site.

The components maker was additionally among the many roughly 60 suppliers featured on Undertaking Arrow, the all-Canadian EV idea unveiled by the Automotive Elements Producers’ at CES in Las Vegas this January. Fastco’s EV-attuned wheels underpin the prototype.

Glenn Chaplin, who based Fastco in 1989 after practically 20 years as an auto accent retailer, mentioned the deal “opens new alternatives” for the wheel maker, whereas maintaining the corporate’s present management in place.

Regardless of the acquisition, little will change at Fastco, Groupe Touchette mentioned. The corporate will preserve its unbiased manufacturers and administration crew, whereas operations at its two Canadian amenities will “proceed as normal.