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Press Release December 2019


Toronto, Ontario, (December 13, 2019) – Del Equipment Inc. (“DEL” or the “Company”), Canada’s oldest and most respected national truck body builder and upfitter brand since 1945, is pleased to announce it is advancing to Phase II of its Court-approved Sale and Investment Solicitation Process (“SISP”).

During Phase II, participants will have the opportunity to conduct additional due diligence and review the form of asset purchase agreement provided by DEL.  At the end of Phase II, they will be expected to submit a binding offer in the form of a fully-executed Asset Purchase Agreement (the “APA”), together with a blackline showing the changes to the form of asset purchase agreement provided by DEL (the “Binding Bid”).  The deadline for submission of a Binding Bid is 5:00 p.m. (Toronto time) on January 31, 2020 (as may be extended by DEL with the consent of the Monitor or further Order of the Court, the “Binding Bid Deadline”). 

DEL would like to thank the participants in Phase I of the SISP for the interest they expressed in the opportunity.
On October 22, 2019, DEL obtained an Initial Order from the Ontario Superior Court of Justice (the “Court”) initiating the CCAA Proceedings. MNP Ltd. was appointed monitor in the CCAA Proceedings (the “Monitor”). 

For more information on the CCAA Proceedings, refer to or contact Doug Lucky, Chief Restructuring Officer or Paul Martin, Chairman of the Board and Secretary.
As the Company advances through the process, it will keep everyone informed.

For further information, please contact:

Paul Martin                                                             Doug Lucky
Chairman of the Board and Secretary                     Chief Restructuring Officer
Del Equipment Inc.                                                 Del Equipment Inc.
(416)  421-5851 x1115                                           (416) 421-5851 x1169                         

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