SASKATOON – After 70 years, the Kramer family is retiring from the equipment dealership business in Saskatchewan. The news comes as Finning International announced Wednesday they have reached an agreement to buy the Kramer Caterpillar dealership.
Finning officials said the $230 million purchase offers the company a growth opportunity that diversifies its base into the potash and uranium sectors.
“Expanding Finning’s Western Canadian operations into Saskatchewan is a great strategic fit and represents a compelling growth opportunity for our company, employees, customers and shareholders,” said Scott Thomson, president and CEO of Finning International.
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READ MORE: Caterpillar dealer Finning International to cut Canadian workforce by 500
Officials said the two companies already share common customers who will benefit from the transaction, which is expected to close in July.
“It’s been an honour to lead the Kramer Cat dealership for the past 23 years and I am proud of our organization’s many accomplishments,” stated Tim Kramer, president of Kramer Ltd.
“I am confident Finning will be a great addition to the province of Saskatchewan and our employees are joining a successful Canadian business that cares about its employees, customers and the community.”
Kramer employees 475 people across the province in seven locations: Regina, Saskatoon, Estevan, Swift Current, North Battleford, Kindersley and Tisdale. The company also operates rental locations in Saskatoon and Regina.
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