Mergers, acquisitions, entries and exits
Brandt buys Cervus
By Patrick Flannery
Brandt Tractor and Cervus Equipment have announced Brandt will acquire all shares in Cervus for $302 million.
Angela Lekatsas, president and CEO of Cervus, said, “This transaction delivers tremendous value for our shareholders and clearly demonstrates the successful execution of our strategy. As a private company with a committed, well-capitalized and long-term owner, Cervus will be better positioned for the next stage of evolutionary growth for our dealerships. The size and scale of the entity created by the combination of our two companies will allow for increased investment into Cervus for the benefit of our employees and customers”.
Shaun Semple, CEO of Brandt, said, “The Brandt team is excited about this deal as it will allow us to better serve our customer base across Canada. The addition of Cervus’ offerings will form three brand new segments at Brandt dedicated to serving the agriculture, transportation and material handling industries. These segments, in addition to our existing specializations in construction, road building, forestry and more, will further establish Brandt as a total solutions provider across our diverse customer groups.”
The Brandt group of companies is headquartered in Regina and employs 3,400 people worldwide in diverse divisions including agricultural products, construction equipment, landscaping equipment, tractors and trailers and more.Cervus equipment is an equipment dealer with 64 locations across Canada representing John Deere, Peterbilt, JLG, Clark, Doosan and Sellick.