Demers Braun Crestline announces the acquisition of Medix Specialty Vehicles

Demers Braun Crestline (DBC), a subsidiary of Demers Braun Ambulance manufacturer, a Canadian company, announced today that it has recently completed the acquisition of Medix Specialty Vehicles, a full line final stage ambulance manufacturer headquartered in Elkhart, Indiana, for an undisclosed financial consideration.

Through this transformational transaction, DBC further strengthens its position among the leading global ambulance manufacturers, now employing over 1140 talented individuals working across 12 different production and service center sites in Canada and the United States.

"I am sincerely delighted with this transformational acquisition. The Medix addition expands and reinforces our brand portfolio while increasing our competitive position and reach among ambulance manufacturers across North America and in the over 40 countries we now serve," said Alain Brunelle, President and Chief Executive Officer of Demers Braun Crestline. "As a natural next step following the merger between Demers and Braun in early 2018 and the Crestline acquisition in Western Canada later that same year, today’s transaction reaffirms our position as the reference for ambulance innovation in the market. This acquisition could not have happened without the continued support from our financial partners at Clearspring and CDPQ and I wish to thank them for their vision and commitment."

"Today’s exciting acquisition enables us to make further strides towards our vision of being the partner of choice for the Emergency Medical Services providers across Canada, North America and the world, offering the very best in vehicles and customer care across all market segments," added Steve Hoffrogge, President, Canadian Operations. "I wish to extend a very warm welcome to each of the nearly 200 new colleagues joining the Demers Braun Crestline family and look forward to working closely with the Medix team to continue to support our customers in all of their objectives – and most importantly, saving lives."

"On behalf of our employees, clients and partners from around the world, I would like to thank Alain, Kim and the entire DBC leadership team. We take great pride in combining forces and joining an organization with such an extraordinary legacy, reputation and recognition for excellence. This is a winning transaction for our customers and employees alike," said Greg Rusk, Chief Executive Officer of Medix Specialty Vehicles.

"We are impressed with the track record of growth at Medix, their strong distribution base and partners and customer relationships and the company's ability to build and to maintain brand presence in a highly competitive marketplace. Demers, Braun, Crestline and now Medix share the same values and we are confident that this partnership will benefit customers, suppliers and employees alike," said Lawrence Stevenson, Managing Partner at Clearspring Capital Partners.

"CDPQ is happy to continue our long-standing commitment to supporting Demers Ambulances in its growth and global expansion," said Kim Thomassin, Executive Vice-President and Head of Investments in Québec and Stewardship Investing at CDPQ. "With this new acquisition, we can now proudly say that more than one in three ambulances in North America is built in a Demers manufacturing facility."