TerraVest, Hammond, & More: Canada’s Industrial Comeback Stories

Industrial stocks are staging a comeback, with roll‑ups, organic recovery, and infrastructure cash flows power TerraVest, Hammond Power, and Brookfield Infrastructure.

Amy Legate-Wolfe

Author Bio Amy became interested in investing in 2018 after having her first daughter. After receiving a masters degree in journalism from Western University, she became frustrated that the finance industry remained a confusing place for Canadians like her: new parents, millennials, and other young people who needed to understand their finances. Now, Amy focuses on tech companies and renewable energy for growth opportunities, coupling that with long-term investing strategies and equities. She also provides investors with a daily newsletter, Canada Stock Digest, for daily market updates. Her work can also be found at Canada's National Observer, where she writes on the business side of climate action. Before joining Motley Fool Canada, Amy wrote for major news organizations including HuffPost, CTVNews.ca, and CBC. When she’s not researching investing strategies, Amy’s time is pretty much monopolized by her two wild daughters, but in what little spare time she has she loves to do yoga, go on walks with her dog, and travel with her husband. Social Media Follow Amy on LinkedIn and Canada Stock Digest. Favorite Investment Quote “October: This is one of the particularly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February.” – Mark Twain

Published October 6, 2025 4:10 pm EDT

| More on: BIP.UNHPS.ATVK

Key Points

TerraVest's roll‑ups drove 39% EBITDA growth, but investors should watch cash‑flow conversion, rising debt, and realization of acquisition synergies.
Hammond Power shows organic recovery with record sales, a 15% adjusted EBITDA margin and low leverage, so backlog conversion is key to sustain growth.
Brookfield Infrastructure benefits from industrial reinvestment, steady FFO growth and a rising dividend, offering income plus exposure to long‑term demand.

It was a tough few years for the industrial sector during the pandemic. However, fast forward to today, and this area seems to be showing signs of a comeback. In fact, there are a few industrial stocks already making headlines, following the recent announcement of the TSX30! Today, let’s look at three comeback options in the industrial sector and see whether these belong in your portfolio.

Income and growth financial chart — Source: Getty Images

TVK

TerraVest (TSX:TVK) is a strong investment for those seeking growth through recent acquisitions. These roll-ups are showing scale, but not yet an organic recovery. So, there’s still more to come for investors looking at this stock on the TSX today. Meanwhile, it’s showing some big lift in its earnings as well.

During the last year, the company has made multiple acquisitions, adding considerable top-line growth. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose due to this by 39% year over year, with acquisitions already contributing to profitability. The key here will be whether the company can keep it up organically in the future. So, investors will want to watch cash flow, debt, and realized synergies.

HPS.A

Another top industrial stock to consider is Hammond Power Solutions (TSX:HPS.A) on the TSX today. The company is a strong choice as an organic industrial comeback. The TSX stock showed sustained organic sales growth, margin resiliency, capacity expansion, and a conservative balance sheet. All of this points to sustainable growth and a solid comeback.

This was viewed during its recent earnings, with adjusted EBITDA hitting $33 million, a 15% margin. It also achieved record quarterly sales at $224 million, up 14% year over year. The TSX stock boasts low debt at $63 million, and a very low total debt to equity of just 19%. This gives it room to invest without heavy leverage. Investors will need to watch its backlog conversions, but overall, the TSX stock looks like a solid investment during an industrial comeback.

BIP.UN

Finally, we have Brookfield Infrastructure Partners (TSX:BIP.UN). This infrastructure powerhouse underpins the industrial recovery. It’s a strong, strategic enabler of an industrial comeback, while not really a class comeback story. Instead, it’s a deep, institutional platform profiting from industrial re-investment through supply-chain rebuilds, energy and logistics, and more. So as long as global and Canadian industrial activity continues, the stock benefits.

And benefit it has, with the company seeing a 5% increase in funds from operations year over year, while deploying large deals. Furthermore, the TSX stock still seems strong enough to pay investors, recently increasing its dividend by 6%! Altogether, it’s a strong investment for those wanting dividends, income and who want in on a comeback sector.

Bottom line

Industrial investments are back, and these three are strong choices across the board. What investors will need to watch is whether the TSX stocks can continue to invest in the sector. TVK looks promising but conditional after scaling quickly. HPS is a clear, low-risk comeback story thanks to organic growth and low leverage. Meanwhile, BIP is more of a top-tier buy, helping finance the industrial resurgence. No matter what you choose, all belong on a watchlist on the TSX today.