It was a big week for western Canadian machinery manufacturers as Winnipeg-based Buhler Industries inked a deal that will see a Turkish company purchase its majority stake, and Guelph-based manufacturer Linamar Corporation acquired Saskatchewan’s Bourgault Industries.
Buhler Industries and Başak Traktör Tarim Ziraat Ve Iş Makinalari Sanayi Ticaret A.Ş., a subsidiary of ASKO Holding, entered an agreement to purchase common shares held by Russia-based Combine Factory Rostselmash Ltd., and to acquire all outstanding debt Buhler owed to Rostselmash, for $60.5 million.
“We believe that ASKO Holding’s deep understanding and involvement in the agricultural equipment industry, will assist the Company in achieving its immense potential for future growth and innovation.” said Grant Adolph, chief operating officer of Buhler Industries in a news release Wednesday.
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Rostselmash owned about 97 per cent of Buhler’s shares. It purchased some 80 per cent of shares in 2007 for $145 million and increased its stake with a $12.25 million purchase of 16.3 per cent of shares in 2021.
Buhler Industries manufactures the Versatile tractor line and Farm King equipment.
It’s heavy ties to Russia led to the company distancing itself from that country’s invasion of Ukraine in February 2022. Buhler put out a statement saying it “operates with autonomy” and its “decisions are made in Canada.” Shortly thereafter, its board accepted the resignation of long-time member Konstantin Babkin, who had Russian political ties.
Also Wednesday, Linamar announced it had reached an agreement to acquire Bourgault Industries Ltd., of St. Brieux, Sask., for $640 million.
Bourgault manufacturers seeding equipment and other ag implements.
“The Bourgault name is synonymous with broad acre agricultural seeding innovation and offers a tremendous opportunity for Linamar to further diversify and grow our agriculture platform, as well as our Industrial segment overall,” said Linda Hasenfratz, Linamar’s CEO, in a news release.
Linamar also owns stakes in MacDon and Salford.
“The Bourgault family is incredibly proud of the legacy we have created both here in in St. Brieux, Saskatchewan, but also around the world,” said Bourgault president Gerry Bourgault in a news release. “We are excited to have our team of over nine-hundred people in Saskatchewan, and over one thousand worldwide, join the Linamar family.”
—Geralyn Wichers is associate digital editor of AGCanada.com. She writes from southeastern Manitoba.
