August 14, 2014
Cervus Equipment says it has completed its acquisition of Peterbilt Ontario Truck Centres (POTC).
“Over the past 34 years, Peterbilt Ontario has grown a strong business within the Ontario market, and we look forward to building on that growth with the entire Peterbilt Ontario team,” says Graham Drake, President and CEO of Cervus Equipment.
With the acquisition, 308 employees will join Cervus Equipment from 12 dealerships and four support locations in areas such as Mississauga, Whitby, London, North Bay, Cardinal, Wroxeter, Norfolk, Waterloo, Haldimand,Woodstock, Windsor-Essex and Hamilton-Niagara.
Founded in 2003, Cervus already has interests in 55 industrial, commercial, agricultural and transportation equipment dealerships, employing over 1,200 people throughout Western Canada, New Zealand and Australia. Cervus Equipment’s dealer network includes four Peterbilt dealerships in Saskatchewan.
“Peterbilt celebrates its 75th anniversary this year,” Drake says. “We are honoured to continue selling and servicing this world-class brand in Ontario with our new team. Our success will continue to be measured by the satisfaction of the people we work with every day, on the sales floor, in the shop and on the road.”
Cervus Equipment acquired the business and assets of POTC for approximately $25.5 million and POTC will be rebranded to Cervus Equipment Peterbilt.