Brandt Completes Cervus Deal, Creates International Equipment Dealer Powerhouse

Regina-based company welcomes 64 new locations across Canada,Australia,and New Zealand.

REGINA,SK,Oct. 23,2021 -- Brandt Tractor Ltd.,a wholly owned subsidiary of the Brandt Group of Companies,is pleased to announce that it has successfully acquired Cervus Equipment Corp.,following a 97.66% endorsement for the deal in an October 12,2021 vote by Cervus shareholders. The transaction sees publicly traded Cervus transition to 100% private ownership in an all-cash deal.

Regina-based company welcomes 64 new locations across Canada,and New Zealand. (CNW Group/Brandt Tractor Ltd.)

The landmark transaction creates Canada's largest-ever equipment dealer network,adding 64 agriculture,transportation,and material handling equipment locations to Brandt's existing John Deere Construction & Forestry dealerships across Canada. When fully integrated,it will give Cervus' customers access to Brandt's extensive national parts and technical support infrastructure.

The purchase further establishes the firm's position as a premier privately held Canadian company and the largest John Deere dealership in the world.

"The addition of Cervus' branch network is a big win for customers in all of the affected markets,"says Brandt owner and CEO,Shaun Semple. "We've got a lot to offer and we're ready to roll up our sleeves and earn the loyalty of our new customers through a combination of premium products and services and a consistent,high-quality customer support experience."

The deal gives Brandt unparalleled market penetration,expanding their geographical footprint and enabling the company to add,in select markets,John Deere agricultural equipment; Peterbilt transportation equipment; and Clark,Sellick,JLG,Baumann and other material handling equipment in addition to their already-impressive list of products and services.

With the acquisition of the Cervus locations in Canada,Australia and New Zealand,Brandt now owns and operates 120 full-service equipment dealerships with an additional 50+ service points and employs over 5100 people.

The transaction will make a significant impact across the industry as the company rolls out plans to introduce expanded parts inventories,service department capacities,and extended hours of operation at the former Cervus dealerships. As operations are integrated,staffing in these locations is expected to increase by up to 40% with significant new facility construction across the entire network.

"Cervus staff,customers,and their communities will all benefit from this acquisition through a stronger,more diversified network of support dealerships,"concludes Semple. "Brandt is fully committed to ongoing investment in business infrastructure and community enhancement; there is tremendous opportunity for everyone in this deal."

The transaction officially closed on October 22,2021.

About the Brandt Group of Companies

The Brandt Group of Companies — headquartered in Regina,Saskatchewan,Canada — is comprised of Brandt Agricultural Products,Brandt Engineered Products,Brandt Equipment Solutions,Brandt Road Rail,Brandt Positioning Technology,Brandt Truck Rigging & Trailers,Brandt Finance,Brandt Developments Ltd.,Brandt Road Technology,Brandt Mineral Technology,and Brandt Tractor Ltd. — the world's largest privately-owned John Deere Construction & Forestry equipment dealer. Brandt has over 100 locations in Canada and the U.S.,over 3,600 employees,and a growing international audience; serving the construction,forestry,agriculture,rail,mining,steel,and energy industries with unique custom products. Brandt is one of Canada's largest privately owned companies and is among an elite group of Platinum Club members of Canada's Best Managed Companies.

About Cervus Equipment

Cervus is a leading equipment solutions provider to customers in agriculture,and industrial markets across Canada,Australia and New Zealand. Throughout their territories and across their diverse markets,Cervus dealerships are united by the sales and support of the market-leading equipment their customers depend on to grow their business. The Company operates 64 Cervus dealerships and is the authorized representative of leading Original Equipment Manufacturers including: John Deere agricultural equipment; Peterbilt transportation equipment; and Clark,Doosan,JLG and Baumann material handling equipment. Cervus common shares are listed on the Toronto Stock Exchange and trade under the symbol "CERV".

For more information,contact Marnel Jones at Marnel.Jones@brandt.ca or (306) 519-3091

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