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Aug. 17, 2021 Source: Brandt Group news release CALGARY, AB - Cervus Equipment Corporation (the "Company" or "Cervus") (TSX: CERV) today announced that it has entered into an arrangement agreement (the "Arrangement Agreement") pursuant to which Brandt Tractor Ltd. ("Brandt") will acquire all of the issued and outstanding common shares of the Company, excluding those held by Brandt, for $19.50 per share in cash (the "Consideration"), valuing Cervus at approximately $302 million on an equity value basis (the "Transaction"). The Consideration represents a 37% premium to the 20-day volume-weighted average price of the Company's shares on the Toronto Stock Exchange for the period ending August 13, 2021. Angela Lekatsas, President and Chief Executive Officer 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, Chief Executive Officer 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." To read the entire news release click here. About Cervus Equipment Corporation Cervus is a leading equipment solutions provider to customers in agriculture, transportation, and industrial markets across Canada, Australia and New Zealand. Throughout our territories and across our diverse markets, Cervus dealerships are united by the sales and support of the market-leading equipment our customers depend on to grow their business. The Company operates 64 Cervus dealerships and is the authorized representative of leading Original Equipment Manufacturers including: John Deere agricultural equipment; Peterbilt transportation equipment; and Clark, Sellick, Doosan, JLG and Baumann material handling equipment. Cervus common shares are listed on the Toronto Stock Exchange and trade under the symbol "CERV". About the Brandt Group of Companies The Brandt Group of Companies - headquartered in Regina, Saskatchewan, Canada - is comprised of Brandt Agricultural Products, Brandt Engineered Products, Brandt Equipment Solutions, Brandt Road Rail, Brandt Positioning Technology, Brandt Truck Rigging & Trailers, Brandt Finance, Brandt Developments Ltd., Brandt Road Technology, Brandt Mineral Technology, and Brandt Tractor Ltd. - the world's largest privately-owned John Deere Construction & Forestry equipment dealer. Brandt has over 100 locations in Canada and the U.S., over 3,400 employees, and a growing international audience; serving the construction, road building, forestry, agriculture, rail, mining, steel, and energy industries with unique custom products. Brandt is one of Canada's largest privately owned companies and is among an elite group of Platinum Club members of Canada's Best Managed Companies. Tweet |
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