Brandt Tractor a wholly-owned subsidiary of the Brandt Group of Companies,  announced that it has successfully acquired Cervus Equipment Corp., following a 97.66% endorsement for the deal in an October 12, 2021 vote by Cervus shareholders. The transaction sees publicly-traded Cervus transition to 100% private ownership in an all-cash deal.

The landmark transaction creates Canada’s largest-ever equipment dealer network, adding 64 agriculture, transportation, and material handling equipment locations to Brandt’s existing John Deere Construction & Forestry dealerships across Canada. When fully integrated, it will give Cervus’ customers access to Brandt’s extensive national parts and technical support infrastructure.

The purchase further establishes the firm’s position as a premier privately held Canadian company and the largest John Deere dealership in the world.

“The addition of Cervus’ branch network is a big win for customers in all of the affected markets. We’ve got a lot to offer and we’re ready to roll up our sleeves and earn the loyalty of our new customers through a combination of premium products and services and a consistent, high-quality customer support experience.”

says Brandt owner and CEO, Shaun Semple.

The deal gives Brandt unparalleled market penetration, expanding their geographical footprint and enabling the company to add, in select markets, John Deere agricultural equipment; Peterbilt transportation equipment; and Clark, Sellick, JLG, Baumann and other material handling equipment in addition to their already-impressive list of products and services.

With the acquisition of the Cervus locations in Canada, Australia and New Zealand, Brandt now owns and operates 120 full-service equipment dealerships with an additional 50+ service points and employs over 5100 people.

The transaction will make a significant impact across the industry as the company rolls out plans to introduce expanded parts inventories, service department capacities, and extended hours of operation at the former Cervus dealerships. As operations are integrated, staffing in these locations is expected to increase by up to 40% with significant new facility construction across the entire network.

“Cervus staff, customers, and their communities will all benefit from this acquisition through a stronger, more diversified network of support dealerships. Brandt is fully committed to ongoing investment in business infrastructure and community enhancement; there is a tremendous opportunity for everyone in this deal.”

concludes Semple.

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More than 71% of the outstanding shares of Raven voted, and of the shares that voted, over 99% voted in favor of the transaction with CNH Industrial.

Dan Rykhus, Raven President & Chief Executive Officer, said,

“We thank our shareholders for their strong support of this transaction. We look forward to working with the CNH Industrial team to close the transaction.”

The transaction is expected to close in the fourth quarter of 2021, subject to approval from the Committee on Foreign Investment in the United States (CFIUS) and acceptance by the Defense Counterintelligence and Security Agency (DCSA) of a signed commitment letter.

The final voting results will be reported in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission, after certification by Raven’s inspector of elections.

J.P. Morgan Securities LLC acted as financial advisor to Raven and Davis Polk & Wardwell LLP as its legal advisor.

Source: Raven Industries

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