December 2023: Origin Merchant Partners Advises Buhler Industries on its sale to ASKO Holding

December 2023: Origin Merchant Partners Advises Buhler Industries on its sale to ASKO Holding

By ext_origin

All Transactions, Mergers & Acquisitions

January 3, 2024

Origin Merchant Partners (“Origin”) is pleased to announce that it acted as exclusive financial advisor to Buhler Industries (“Buhler”)(TSX:BUI) on its sale to the Turkish farm equipment company Başak Traktör Tarim Ziraat Ve Iş Makinalari Sanayi Ticaret A.Ş. (“Başak Traktör”), a wholly-owned subsidiary of ASKO Holding (“Asko”).

Buhler:  Headquartered in Winnipeg, Manitoba, Buhler is an integral part of the agricultural landscape in Canada, manufacturing and distributing agriculture equipment through the leading brands Versatile and Farm King. The Versatile line is well known to farmers in North America and Australia, producing high horsepower tractors of up to 650 hp. Farm King produces augers, mowers, bale carriers, snowblowers, and implements. Dating back almost 100 years, Buhler has served as a cornerstone in the Canadian economy, taking pride in employing over 800 Canadians and making a significant impact in the Province of Manitoba, with manufacturing facilities in both Winnipeg and Morden.

Başak Traktör is headquartered in Sakarya, Turkey and started manufacturing agricultural equipment and machinery in 1914 under a variety of brand names. In 1996, the company was renamed Başak. Under the brand name of Başak Traktör, the company manufactures tractors up to 120 horsepower and manufactures soil tillage, planting, and plant protection machinery, harvesting and garden equipment under the Başak Agri brand. In addition, Başak distributes other agricultural brand machinery.

ASKO Holding most recently made its first acquisition in North America by purchasing Hy-Brid Lifts in the United States earlier in 2023. ASKO Holding is a diversified company with interests in agricultural machinery, construction equipment, energy, and technology.

Origin Senior Leads: Andrew Muirhead, Jim Osler, Christopher Solda