Brookfield Asset Management has agreed to acquire Edmonton-based Gregg Distributors in a transaction valued at $1.6 billion.

Gregg, an industrial-maintenance, repair and operations distributor, is to be acquired through Brookfield Asset Management’s private-equity arm. The transaction will see the Gary Gregg family and Gregg employees retain a meaningful ownership stake in the company, said Brookfield.

Founded in 1968, Gregg serves industrial customers across Western Canada and has built its business on a broad product offering, rapid fulfillment capabilities and customer service.

“Gregg is a high-quality business with a strong market position, resilient cash-flow profile and a differentiated customer value proposition,” said Erson Olivan, a managing partner in Brookfield’s private-equity group. “The company has built an exceptional reputation over several decades by providing mission-critical products and outstanding service to customers. We look forward to partnering with the Gregg team to support the company’s continued growth and long-term success.”

Gary Gregg, on behalf of his family and the company said, said Brookfield’s extensive operating expertise, commitment to supporting our customers, and deep knowledge of Gregg’s end-markets make the investment giant “the ideal partner for Gregg’s next chapter.”

The transaction is expected to close by year-end end 2026, subject to customary closing conditions and regulatory approvals.

Photo: Gregg Distributors