Norea Capital has acquired a majority stake in Motrec International, a leading Canadian manufacturer of electric industrial vehicles, aiming to accelerate its growth both locally and internationally.

Information on the Target

Motrec International (Motrec) is a leading designer and manufacturer of high-performance electric industrial vehicles. Established over 15 years ago, the company has experienced significant growth, achieving sales ten times higher than those recorded at the time of its acquisition in 2011. Motrec has become a cornerstone of employment and economic stability in the Estrie region, showcasing Canadian expertise in the electric vehicle market.

As of September 5, 2025, Blair McIntosh, the successful entrepreneur and outgoing CEO, announced a pivotal transition for the company. Alongside Norea Capital's entry as the majority shareholder, Export Development Canada (EDC) joins as a strategic partner, ensuring that Motrec is well-positioned to accelerate its growth trajectory under a robust leadership team.

Industry Overview in Canada

The electric vehicle industry in Canada is rapidly evolving, driven by increasing environmental concerns and government support for sustainability initiatives. The Canadian go