Rödl & Partner advises CLAAS of America, Inc. (“CLAAS”) and the Tingley family on the sale of majority shares in Tingley Implements, Inc. DBA Tingley’s Harvest Center to Royal Reesink, B.V.
Royal Reesink, B.V., an international distributor of agricultural equipment, acquired a majority share interest in Tingley’s Harvest Center, a full-service CLAAS dealership with locations in Saskatchewan and Alberta, Canada. Shane Tingley, founder and CEO, and CLAAS will remain minority shareholders of Tingley’s Harvest Center.
Tingley’s Harvest Center will retain its employee base and continue to operate under its current name, leveraging its brand recognition in the Western Canada agriculture business. The combined knowledge of Tingley’s Harvest Center and Royal Reeskink, B.V. in the agriculture market will allow for further growth opportunities in Canada’s expanding agricultural market.
Rödl & Partner’s U.S. transaction services team led by Klaus-Martin Haussmann was the exclusive financial advisor to CLAAS and the Tingley family. Key service areas included vendor assistance services, deal advisory during the negotiations with various interested parties and transaction finalization stages.
CLAAS is a family business founded in 1913 and one of the world’s leading manufacturers of agricultural machinery. The company, with corporate headquarters in Harsewinkel, Germany, is the European market leader in combine harvesters. CLAAS is the world leader in another large product group, self-propelled forage harvesters. CLAAS is also a top performer in agricultural technology worldwide, with its tractors, agricultural balers and green harvesting machinery. The CLAAS product portfolio also includes state-of-the-art farming information technology. CLAAS employs around 10,900 employees worldwide and reported a turnover of 3.7 billion euros in the 2017 financial year.
About Royal Reesink, B.V.
Royal Reesink, B.V. is one of Europe’s largest distributors of high-quality machinery and components for agriculture, landscape maintenance, logistic warehousing and the construction equipment industry. It provides a strong total concept for the entire lifecycle of a machine, extending from financing to optimum operation and maintenance.
Advisors to CLAAS of America, Inc. and the Tingley family
Rödl & Partner Atlanta
Klaus-Martin Haussmann, German Public Accountant (“Wirtschaftsprüfer”), Certified German Tax Consultant (“Steuerberater”), Certified Public Accountant (U.S.), Partner (project lead: vendor assistance and deal advisory)
Frank Breitenfeldt, German Public Accountant (“Wirtschaftsprüfer”), Certified German Tax Consultant (“Steuerberater”), Certified Public Accountant (U.S.), Partner – Head of Transaction Services USA (vendor assistance and deal advisory)
Christian Haverney, CFA, Certified Public Accountant (U.S.), Associate Partner (vendor assistance and deal advisory)
Kai Seidel, Associate (vendor assistance)