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DEL COMPLETES TRANSACTION WITH DRIVE PRODUCTS

2020-03-31


NEWMARKET, ON – March 31, 2020 – Del Equipment Inc. (“DEL” or the “Company”) is pleased to announce the completion of the previously announced transaction with Drive Products Inc. (“Drive Products”). As a result of the completion of the transaction, the majority of DEL’s Canadian business will be consolidated within the Drive Products business, forming Canada’s largest truck upfitting operation.
“We are thrilled about our acquisition of DEL,” said Greg Edmonds, Chief Executive Office of Drive Products. “With the closing of this transaction now complete, we look forward to working with DEL’s loyal suppliers, customers and employees to continue to provide the industry-leading workmanship and services that have become known and expected of the DEL brand.”

Douglas Lucky, Chief Restructuring Officer of DEL said, “We are very excited about DEL’s future with Drive Products. We believe that bringing DEL and Drive Products together will enable the long-term sustainable operation of the DEL business for the benefit of its stakeholders. We would like to extend a heartfelt thank you to all of our customers, employees and business partners for their continued loyalty over many years.”

About Del Equipment Inc.

Del Equipment Inc. engineers, designs, and manufactures truck body and equipment solutions. DEL has been serving the Canadian market for almost 70 years and delivers “Toughness you can trust™”.  DEL has a broad and diverse customer base including municipalities, truck dealerships, national fleet accounts and business operators who want a superior experience when getting their vehicles up-fitted with quality truck bodies and truck equipment.  Products manufactured or distributed by DEL are recognized in the field as “World Class”.  We pride ourselves on being able to creatively deliver premier truck body advisory services and product assembly of exceptional value.

About Drive Products Inc.

Drive Products offers a complete range of truck mounted equipment, products, services and solutions through a growing branch and partner network across Canada. Drive Products has continued to build on its diversification strategy centered around strong distribution, systems integration, upfitting and manufacturing capabilities. Most recently, Drive Products has established its position as a leader of truck equipment manufacturing in Canada with the additions of premium truck equipment manufacturers Kargo King Roll Off Systems (2013), Voth Truck Bodies (2014), Snowbull Tractor Plows (2017) and G.W. Anglin (2019).  Drive Products is committed to providing premium solutions, products and services across Canada with the best people in the industry.

For further information, please contact:

Doug Lucky
Chief Restructuring Officer
Del Equipment Inc.
(416) 421-5851 x1169
 dlucky@delequipment.com

 
Paul Martin 
Chairman of the Board and Secretary 
Del Equipment Inc
(416) 421-5851 x1115 
pmartin@delequipment.co

Download the Official Press Release

For more information on how sales & services are affected please download the press release below:

Download Drive Products Press Release


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