Brandt Tractor Ltd. will acquire all of the issued and outstanding common shares of Cervus Equipment Corporation for $19.50 per share in cash, valuing Cervus at approximately $302 million on an equity value basis.
Cervus also announced, as part of its strategy to grow product support offerings, a new agriculture facility planned near Penhold, Alta., and the acquisition of Vapormatic distribution rights for the North Island of New Zealand.
Cervus Equipment Corp., a 21 store John Deere dealership group, reported that overall revenue decreased 20% in the quarter, with reduced equipment sales in its Agricultural segment comprising the majority of the decrease.
CFO Randy Muth will retire after nearly 13 years with Cervus. Adam Lowther, currently director of finance at Cervus, will be promoted to CFO effective Jan. 1, 2018
Cervus Equipment Corporation today announced that it has sold its 21.449% interest in Maple Farms Partnership to the majority partner for gross proceeds of approximately $9.1 million.
In this episode of On the Record, brought to you by Associated Equipment Distributors, we look at President Trump's tariff reduction on ag equipment, the latest dealer sales forecasts, and how high input costs are keeping farmer sentiment down.
Since 1980, A&I Products has become a leading manufacturer and wholesale distributor of aftermarket replacement parts for the agricultural, turf, and industrial equipment markets. A&I Products' experience and expertise has greatly contributed to the company's reputation as a top supplier of quality, reasonably priced parts. Founded with roots as a small machine shop and repair facility, the company made the transition by manufacturing new parts to replace those that were identified as commonly needing repair. Throughout the 1980s, the company quickly garnered a reputation for offering quality parts at a reasonable price.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
At Machinery Scope, we believe you deserve the best risk management solutions for your investments in heavy equipment. Since 2013, we have been proud to offer extended warranty, appraisals, and inspections. Machinery Scope is a family-owned business built on our experience in farming and equipment dealerships. We understand your business and provide a personalized and professional level of customer service. Machinery Scope has built a strong warranty product with our customers in mind, offering the same professional level of service from the time you get a quote, through the processing of a claim.