Cervus Equipment is set to be acquired by Brandt Tractor in a $240 million deal that will take the Canadian Peterbilt dealer private.
Cervus Equipment’s Peterbilt dealerships had a strong first quarter, but the company says it expects COVID-19 will hit short-term demand.
Demand headwinds for agricultural and transportation equipment were the factors behind Cervus Equipment’s operating loss in the third quarter of 2019.
Continued weakness from its Canadian Peterbilt dealerships adds to steep decline in Alberta company’s agricultural equipment business.
Canadian John Deere dealership network enters trucking business with C$13.5 million deal.
Cervus Equipment (TSX: CRV) expects truck sales to rebound its Canadian Peterbilt dealerships as an order backlog improves during 2019. “The order backlog is a North American backlog,” CEO Graham Drake said during a call with analysts on May 9, a day after the company released its first quarter 2019 results. “Getting the right trucks […]
