Cervus Buys Peterbilt Ontario Truck Centres for $25.5M
CALGARY — Cervus Equipment has announced a deal to buy Peterbilt Ontario Truck Centres for about $25.5 million.
“Cervus strives to be an outstanding dealer of trusted and reliable brands, and we grow our business in partnership with strong manufacturers such as Peterbilt,” said Graham Drake, president and CEO of Cervus.
Cervus already owns Peterbilt dealers in Western Canada as well as John Deere, JCB Construction, Bobcat, Clark, Doosan and Sellick equipment dealers. It has 56 dealerships in Western Canada, New Zealand and Australia.
“This acquisition extends our relationship with Peterbilt and expands our transportation business into the largest freight market in Canada,” Drake said.
Peterbilt Ontario Truck Centres has been serving Ontario for over 33 years and has 12 locations across the province and makes about $157 million a year in revenues.
The deal is subject to approval and is expected to close by July 21.
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