Ficodis acquires Varco with backing of Fondaction CSN, RBC

Ficodis Group has bought Varco Industrial Sales Ltd, a London, Ontario-based specialist in cutting tools and AutoCrib vending machines. No financial terms were disclosed. The acquisition, Ficodis’ fourth this year, was funded by Québec private equity and venture capital firm Fondaction CSN and the Royal Bank of Canada (RBC). Fondaction CSN reported an investment of $5.3 million. Ficodis, a Montréal-based distributor of specialized industrial products, said the deal accelerates its growth and increases the company’s presence in the Ontario market.


Ficodis Group Welcomes Ontario Company Varco as Its 4th Acquisition This Year

MONTRÉAL, October 13, 2016 – Ficodis Group is proud to announce the acquisition of Varco, a company that has been based in Ontario since 1983. With this acquisition, Ficodis—a Quebec-based company that distributes specialized industrial products—is accelerating its growth and making major inroads into the Ontario market.

“With the acquisition of Varco, the fourth this year, Ficodis is welcoming a major industry player into the group. In addition to sharing our values, Varco is an extremely promising company with four branches in the economically robust Toronto–Windsor corridor,” said Ficodis President, Christophe Bévillard. “It is great to know that we will now be able to rely on the specialized expertise that Varco has developed over the past 30-plus years.”

Varco specializes in cutting tools and AutoCrib vending machines, and has branches in Windsor, Chatham, London and Kitchener. With its 30-person team and steady growth, this company is already well-established in the Ontario market and has enormous potential for further growth.

“Ficodis was our choice due to the fact that they are retaining 100 % of our employees,” said Varco President Jon Varey. “These very employees are responsible for the success and continued growth at Varco over the last 33 years. Moving forward Varco will be even more successful from the additional resources provided by the Ficodis Group!”
Partners who share our values

Ficodis wishes to highlight the important contribution of its financial partners, who have supported the company through its expansion.

“We are thrilled to be able to rely on such solid partners like the Fondaction CSN and the Royal Bank of Canada; both share our human values. They have been true pillars in Ficodis’ continued growth for some time now and we want to thank them for their support,” said Christophe Bévillard.

About Ficodis
Founded in 2010 and based in Montréal, Ficodis is a multi-specialized industrial supply distribution group providing services, technical expertise and products to manufacturing companies and SMEs. Its 12 points of sale in Quebec and Ontario focused on four product families—Tools, Safety, Cutting and Power—are recognized in their regions for the high quality and variety of products offered, their technical expertise and the personalized service and solutions they provide. Ficodis is supported by important financial partners including the Fondaction CSN and the Royal Bank of Canada.

Ariane St-Pierre
Zone franche
Office: 514-317-5715, extension 216

Photo courtesy of Ficodis Group