Principals of True North Advise in Merger of Braun Industries with Demers Ambulances

February 2, 2018 BELOEIL, QUEBEC AND VAN WERT, OH: Demers Ambulances, a Quebec-based leader in the design, manufacturing, and distribution of ambulances in Canada, has merged with Braun Industries, Inc., a leader in custom ambulance manufacturing based in Ohio serving customers throughout the U.S. The combination of expertise, trusted leadership, safety-driven products, values and cultures creates a leading player within the evolving specialty vehicle industry.

Demers is the oldest continuous ambulance manufacturer in North America with ambulances in service worldwide. For Demers, this merger helps the company realize its ambition of dramatically increasing its North American market share and competing on a global scale. The merger with Braun creates the second largest ambulance manufacturer in North America and provides greater scale to pursue innovation and international growth.

Braun is a family-owned company that has been manufacturing custom, high-quality ambulances since 1972. With an extensive dealer network, dedicated workforce and established brand throughout the U.S., Braun delivers hundreds of ambulances each year. For Braun, the merger provides an increased capacity to drive product enhancements, improve product value, and to better serve more customers across the U.S. network.

Moving forward, Kim Braun, CEO of Braun will maintain her current leadership position over the Braun brands and related operations based in Van Wert, Ohio. Both companies will retain their own brands, identities, facilities and employees. The combined company will be led by Alain Brunelle.

Clearspring Capital Partners, a Canadian private equity firm focused on growing middle-market companies, led the transaction alongside Caisse de dépôt et placement du Québec (CDPQ), a global, long-term institutional investor.

The Principals of True North, acting in the capacity of registered agents of Burch & Company, Inc. (“Burch”), were the lead strategic and financial advisors to Braun. In order to assist True North with securities related transactions, its principals are registered investment banking agents of Burch & Company, Inc., member FINRA/SIPC. Burch and True North are not affiliated entities.