2223890 Alberta Ltd. in its $195 million go-private transaction with Rocky Mountain Dealerships Inc.

On December 22, 2020, 2223890 Alberta Ltd. (“AcquireCo”), a company controlled by Matt Campbell and Garrett Ganden (the Executive Chairman and CEO respectively of RMDI) completed its acquisition of Rocky Mountain Dealerships Inc. (“RMDI”). Under the transaction, AcquireCo acquired all issued and outstanding shares of RMDI for a purchase price of $7.41 per share, a total purchase price of approximately $128 million, by way of an arrangement transaction. The overall acquisition is valued at $195 million and the resultant entity will be known Rocky Mountain Equipment Alberta Ltd. Pursuant to the transaction, RMDI established a Special Committee of independent directors to review and evaluate the terms of AcquireCo’s proposal which was unanimously recommended to the Board and in turn to the shareholders. The arrangement was approved at the special meeting of RMDI shareholders and by the Court of Queen’s Bench of Alberta.

RMDI is Canada’s largest agriculture equipment dealer with 36 locations across Alberta, Saskatchewan and Manitoba, specializing in the sale, rental and lease of new and used agriculture equipment.

Osler, Hoskin & Harcourt LLP advised AcquireCo with a team consisting of Robert Lehodey, Neal Ross, Kelsey Armstrong, Jacob Young, Meg Hiles, Carson Wetter, Lindsay Hofer (Corporate), Lorne Carson, Peter Osmond, Miju Damodar (Banking), Rob Housman, Riley Whitlock, Luke Stretch (Real Estate), Kaeleigh Kuzma, Danielle Chu (Competition) and Colena Der (Taxation).