Westcap Mgt. has announced its recent investment in Rocky Mountain Equipment. The transaction was completed in syndication between Westcap MBO II Investment LP and Golden Opportunities Fund Inc.
Rocky Mountain Equipment Alberta Ltd. (formerly Rocky Mountain Dealerships Inc.) announced the completion of its previously announced acquisition by AcquireCo, which was implemented through a Court-approved plan of arrangement under the Business Corporations Act (Alberta).
The two Canadian publicly traded farm equipment dealership groups — Cervus Equipment and Rocky Mountain Dealerships — reported positive results for the third quarter ended Sept. 30, 2020.
Improving sales of used ag equipment for the period ended June 30, 2020, helped push Rocky Mountain Dealerships (RME) to a year-over-year gain of 9.9%, according to the company. Based in Calgary, Alb., RME is Case IH’s largest Canadian dealership group.
On the financial side, RME reported that total sales decreased 2.3% or $5.4 million to $233.4 million compared with $238.8 million for the same period in 2017. Gross profit declined by 6.6% or $2.6 million to $36.2 million from $38.8 million for the same period in 2017. Early snowfalls across the Canadian Prairies stalled harvest activity throughout mid- to late-September, decreasing in-season demand across all categories.
In this podcast, we talk with Rocky Mountain Equipment president Garret Ganden about the dealership's ambitious growth plan. We also take a look at precision farming dealers' outlook for the year and the results from the June Ag Economy Barometer. We also caught up with Curt Blades, senior vice president of of agriculture for the Assn. of Equipment Manufacturers about the first 6 months of 2018 and his outlook for the second half of the year, as well as 3 trends to watch that will have a significant impact on agriculture in the near future.
In today's newscast we talk with Rocky Mountain Equipment president Garret Ganden about the dealership's ambitious growth plan. We also take a look at precision farming dealers' outlook for the year and the results from the June Ag Economy Barometer. We also caught up with Curt Blades, senior vice president of of agriculture for the Assn. of Equipment Manufacturers about the first 6 months of 2018 and his outlook for the second half of the year, as well as 3 trends to watch that will have a significant impact on agriculture in the near future.
Last week, both publicly traded Canadian farm equipment dealership groups issued their second quarter 2017 earnings reports. Both Cervus Equipment and Rocky Mountain dealerships posted solid revenue gains for the 3 month period ended June 30, 2017.
In this podcast, we examine the lawsuit the Assn. of Equipment Manufacturers and the major OEMs have filed to stop the North Dakota “Dealer Bill of Rights” law from going into effect, Krone’s decision to cancel its plans to relocate its headquarters, the unique challenges of remarketing precision farming equipment and the latest earnings reports from Rocky Mountain Equipment and Alamo Group.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.