The Quebec ambulance manufacturer Demers Ambulances doubles its size by acquiring the American company Braun Industries, to which it merges. This transaction allows him to become the second North American player in this sector.
Under this deal announced Friday, whose financial details have not been disclosed, Demers, founded in 1960, will generate an estimated annual turnover of $ 200 million.
The merged company will be managed from Belœil by the president and CEO of Demers, Alain Brunelle, but the two manufacturers will retain their respective brands, identities, facilities and employees.
“Our products are complementary,” Brunelle said in a telephone interview. This is an advantage for dealers and customers. Both brands will continue to grow together “.
Braun’s operations in Van Wert, Ohio, will continue to be led by its current president, Kim Braun. The combined entity is expected to have more than 500 employees on both sides of the border.
The transaction stems from the development plan put in place after the arrival of Clearspring Capital Partners and the Caisse de dépôt et placement du Québec (CDPQ) within the shareholding of the Quebec ambulance manufacturer in 2016.
“It’s been four or five years since we ran into Braun as a competitor,” said Brunelle. After the transaction with our partners, the strategic plan was put in place and we started discussing with Braun last year. ”
For her part, Ms. Braun felt that the moment was “right” for her company, which was founded in 1972, to partner with Demers, which shares common values in terms of innovation and customer service. customers, among others.
The CDPQ pointed out that this transaction will allow both companies to continue their growth “on both sides of the border”.
“We are convinced that the complementarity that exists between these two companies will provide important synergies that will benefit everyone,” said its first vice-president, Quebec, Christian Dubé, in a statement.
In January, Demers Ambulances made a breakthrough in the United States by winning an order for 60 vehicles from Texas-based MedStar Mobile Healthcare.
Hunter Texidor was born and raised in Toronto. He has written for Billboard, The Prague Post and Passport Magazine. In regards to academics, Sage earn his BBA from Mcmaster in Hamilton. Hunter covers business and economy stories here at Billionaire 365.