Fredericton, NB: Atlantic Canada’s largest and most comprehensive distributor of municipal, waste and Ice resurfacing equipment has been sold effective immediately. Harry Smith, President & previous owner of Saunders Equipment Ltd., announced today that the 44-year-old business has been sold to Andrew Peters in a deal brokered by Confederation M&A, Atlantic Canada’s leading mergers & acquisitions firm.
Saunders Equipment LTD. was established in 1974 by George Saunders in Fredericton, New Brunswick. The company originally sold street sweepers to various municipalities and eventually expanded into offering aerial lifts and sidewalk machines. In 1993, the company was purchased by Harry Smith and business partner Buster Harvey, expanding the company through product lines, geographical coverage, and increased service. Smith bought Harvey’s shares of the company in 2006, becoming the sole owner.
“I’m deeply proud of the dedicated team at Saunders Equipment and the great success we’ve enjoyed over the past four decades of doing business in Atlantic Canada,” says Smith. “I look forward to seeing the continued success of Saunders Equipment under the new ownership.”
Peters, who was previously Partner & General Manager for TriStar Mercedes-Benz in Saint John and Dieppe, as well as Saint John Nissan, is prepared to take on the role of owner. “I’m honoured to be obtaining ownership of this important business in Atlantic Canada. Saunders has been excelling in their industry by providing the public and private sector with best-in-class products and service for decades, and I intend on continuing with new plans for further success in years to come.”
Smith & Peters will work together to ensure a successful transition. “Though ownership has changed, it’s business as usual for Saunders and our customers” they said in a joint statement.