The Terteling Company announced its intent to acquire Agri-Services Inc.; one of the largest agricultural equipment dealerships in the Western United States with headquarters in Twin Falls, Idaho and locations across Idaho, Northern Utah and Eastern Oregon. The proposed transaction was submitted to Agri-Service, Inc. shareholders for approval on October 1. If approved by the majority of shareholders in its employee stock ownership plan, the transaction will be effective November 1, 2013.
“This acquisition provides substantial advantages for everyone involved, especially the customers of Western States Equipment and Agri-Service,” said Western States President Tom Harris. “By adding a proven leader in the agricultural industry to The Terteling Company’s family of businesses, we can provide our ag customers with the expertise, equipment and support they need to thrive. Our heavy equipment customers also benefit as we enhance our focus on providing the best solutions and service to meet their needs.”
Under the terms of this agreement Agri-Service will remain a stand-alone company, with a focused commitment to the sales and service of AGCO products within the Rocky Mountain region. Agri-Service Founder and CEO Cleve Buttars will continue to guide the company through the transition and beyond while current Chief Operating Officer Clint Schnoor will become President following the transaction. All other members of their management team will remain with the company and continue to oversee its approximately 175 employees, who are also expected to continue with the company.
“This is really about taking the next step as an organization and building on our history as leaders in the highly competitive agriculture market,” said Clint Schnoor, COO, Agri-Services, Inc. “While our history and the dedication of our employees speaks for itself, the financial strength, experience and benefits that The Terteling Company offers can provide our business with the potential to grow and become even more competitive while maintaining the personal touch our customers expect.”
Pending the approval of this transaction, existing Western States CAT agriculture customers currently located in Agri-Service’s territory will soon be served by Agri-Service. Western States CAT locations in Pasco, WA, Pendleton, OR and Lewiston, ID will continue to provide Challenger and AG Chem sales, parts and service. Existing Agri-Service locations will also provide customers access to additional equipment and tools within the AGCO family of products. All Western States Caterpillar stores will continue to provide CAT equipment sales, parts and service.
About Western States Equipment
Western States Equipment (http://westernstatescat.com) has more than 70 years experience in the agricultural, mining, construction and trucking industries, with nearly 60 bays and 25% of its technicians dedicated to the truck business across its operations. Western States Equipment is an authorized Caterpillar dealer for five mountain states with 13 branches located in Idaho, western Wyoming and Montana, and eastern Oregon and Washington
About Agri-Services Inc.
Agri-Service is the largest Massey Ferguson dealership in North America with nine retail locations and one independent service location across Idaho, Northern Utah, and Eastern Oregon. Since 2009, Agri-Service has been Employee Owned by over 150 proud co-owners. Agri-Service carries a comprehensive line of new and used agricultural equipment including balers, tractors, combine harvesters, windrowers, and several short lines and equipment to service specialty or regional agricultural markets. The company also offers repair and maintenance services, and a vast parts inventory required to support an equipment purchase for the life of the product.
Source: Agri-Service and Western States