Sherbrooke, September 5, 2025 – Reflecting on the transition, successful Quebec entrepreneur, owner and outgoing President / CEO Blair McIntosh stated: “It has been an honor and a privilege to have worked with such a loyal and highly skilled team to help shape Motrec International (Motrec) into the thriving world-class company that it is today: a designer and manufacturer of reliable, high-performance electric industrial vehicles – achieving a tenfold increase in sales since I acquired it in 2011 – and a proud pillar of employment and economic strength for Quebec’s Eastern Townships region. After such a rewarding 15-year journey, the time has come for me to pass the torch. With a strong and capable leadership team at the helm, the arrival of Norea Capital (Norea) as majority shareholder, and Export Development Canada (EDC) as a strategic partner, I am confident that Motrec is poised to accelerate into its next phase of growth with even greater momentum.”
In addition to Norea and EDC, three members of Motrec’s leadership team are joining the company’s shareholder group. While stepping back from day-to-day operations, Mr. McIntosh will remain involved as a minority shareholder and a member of the company’s board of directors.
Appointment of a New CEO
As part of the transaction, Norea also announced the appointment of Rodier Grondin, outgoing President of Princecraft Boats, as Motrec’s next Chief Executive Officer. A seasoned executive from Norea’s business network, Mr. Grondin expressed his enthusiasm for this new mandate. “Motrec is a genuine example of Canadian innovation and expertise, with a talented team and electric vehicles that stand out in the marketplace. I am excited to join the organization and contribute to its continued success in the years ahead.”
Driving Local and Global Growth
« We are privileged to partner with Rodier and a company that has as much commercial potential as Motrec, » said Luc Ménard, President and Managing Partner of Norea. “In many markets, the company is only skimming the surface. We are fully committed to providing Motrec with the means to achieve its ambitions and reach the next level – both at home and around the world.”
While several Canadian flagship organizations such as Hydro-Québec and Bombardier rely on Motrec vehicles to support their daily operations, the company continues to achieve its greatest successes internationally. With a presence in 16 countries, Motrec plans to continue its global expansion, with a particular focus on South America and the Middle East. Strategic acquisitions outside of Quebec are also under consideration to accelerate growth.
Motrec Vehicles in Action
Motrec factsheet
- Motrec’s operations are powered by the expertise of 90 employees based in a modern 70,000-square-foot facility, based in Sherbrooke’s industrial park. The company is also part of a broader manufacturing ecosystem in Quebec’s Eastern Townships region, bringing together more than 300 employees across a dozen companies.
- Motrec is a preferred supplier to leading global automotive manufacturers such as Ford, Stellantis, Tesla, Honda, Nissan, and Subaru, as well as to major corporations including Kraft, Walmart, Procter & Gamble, FedEx, Merck, Boeing, Airbus, Alcoa, Rio Tinto, and Anheuser-Busch. In Canada, Motrec also serves well-known organizations, such as Hydro-Québec, Pomerleau, Bombardier, Pratt & Whitney, Uni-Select, Porter Airlines, and the Vancouver Airport Authority.
- The company generates sales across Canada, in 48 of the 50 U.S. states, and in multiple international markets including Mexico, the United Kingdom, France, Australia, Chile, China, the United Arab Emirates and South Africa.
- Motrec’s vehicles – such as tow tractors and burden carriers – are designed to complement forklifts by streamlining operations, lowering costs, and reducing the risk of accidents. By replacing internal combustion engine forklifts, Motrec’s electric vehicles also help clients reduce their carbon footprint.
- Watch the video on the potential of integrating tow tractors to industrial logistics.
About Motrec International
Since its inception in 1988, Motrec has become a global leader in the design and manufacturing of industrial electric vehicles for the horizontal transportation of goods and people. With a wide range of configuration options, its portfolio of five vehicle families is used by more than 250 organizations worldwide. Motrec’s electric vehicles help reduce carbon footprints, complement forklifts, optimize operations, and lower both costs and accident risks. For more information, visit Motrec’s website.
About Norea Capital
With $560 million in assets under management, Norea is an independent private equity manager focused on Canadian mid-market companies. Norea acts as a strategic partner to support private businesses in their growth plans, mergers and acquisitions, ownership transfers, and the implementation of value-added governance structures. Norea is distinguished by its partnerships with major business families established in Montréal, and active both in Canada and internationally, who leverage their expertise for the benefit of local entrepreneurs. For more information, visit Norea’s website.
