Publicly-traded Rocky Mountain Dealerships Inc. has reached a deal to become a private company.

A numbered company (AcquireCo) controlled by Chairman Matthew Campbell and CEO Garrett Ganden has agreed to buy out the remaining shares that they currently don't own. The price per share is $7.

Rocky Mountain says the purchase price represents a 26.8% premium to the closing share price on October 30, 2020.

The arrangement values Rocky Mountain at $135 million on an equity basis and at $188 million on an enterprise basis, including debt (net of cash) and lease obligations, and excluding floor plan payables.

To go forward, the deal requires two-thirds support at a meeting to be held in December.

Rocky Mountain is one of the largest farm equipment dealers in Canada with 36 locations in Manitoba, Saskatchewan and Alberta.