Collicutt’s board of directors has agreed to unanimously recommend that Collicutt shareholders accept Finning’s offer. The total value of the transaction is approximately C$145 million.
The acquisition will provide Finning with access to an experienced workforce in strategic areas within the Finning dealership territory. In addition, Finning will obtain a total of 315,000 square feet of operational capacity, of which over 200,000 square feet is in modern, near purpose-built shop facilities in Red Deer, Alberta.
The move will free up capacity in existing Finning branches to handle additional customer service work. The Collicutt customer field service operations and staff will be integrated into the Finning branch network to significantly expand the regional footprint.
