Cervus completes sale of construction dealership group
By Cervus EquipmentNews
Mar. 21, 2018 - Cervus Equipment Corporation has announced that it has completed the sale of its construction dealership group, composed of four dealership locations in Calgary, Red Deer, Edmonton and Fort McMurray, Alberta.
The transaction price is in excess of Cervus’ carrying value and includes the land and building at the Fort McMurray construction dealership. For the year ended December 31, 2017, the construction dealership group had revenue of $51.9 million and income before income tax expense of $2.5 million. As a result of the divestiture, Cervus’ Commercial and Industrial segment, which now sells Clark, Sellick and Doosan material handling equipment, will be referred to as the Industrial segment.
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