Finning International said this week that it has completed its acquisition from Caterpillar of the former Bucyrus distribution and support business in portions of South America and in the U.K.
The transaction is valued at U.S. $306 million for Finning in South America and the U.K. An estimated $159 million will be paid upon completion of the transaction for Finning Canada, which is expected to close at the end of the third quarter.
“Today marks a new chapter in our history as we build on our strong foundation as the leading heavy equipment supplier and service partner to support our customers with all of their surface and underground mining equipment needs,” said Mike Waites, president and CEO of Finning International.
Finning International is the world’s largest Caterpillar equipment dealer. It is based in Vancouver, B.C., Canada and operates in western Canada, Chile, Argentina, Bolivia, Uruguay, the United Kingdom and Ireland.
