Yanmar completes acquisition of ASV Holdings
Published by Lucy Stewardson,
Yanmar Group has announced the completion of its acquisition of compact equipment manufacturer ASV Holdings Inc., a designer and manufacturer of compact tracked loaders and skid-steer loaders. The announcement is the final step in the acquisition, following on from the June disclosure of a definitive agreement to acquire the company through the mechanism of a statutory merger.
Yanmar has acquired 100% of ASV’s outstanding shares of common stock for total consideration of US$70.70 million or US$7.05/share. ASV’s independent dealer network throughout North America, Australia, and New Zealand will join the company’s existing global construction equipment operations. The company also sells OEM equipment and aftermarket parts, and owns and operates a 238 000 ft2 production facility in Grand Rapids, Minnesota.
The acquisition strengthens the company’s range of compact equipment products, allowing it to offer full dig, load, carry solutions on the worksite, and contributes to its prospects for growth in North America and globally.
“We expect ASV to realise channel and product synergies after joining the Yanmar Group,” said Mr Giuliano Parodi, Executive Officer of Yanmar Holdings. “In addition, the ASV Grand Rapids facility will continue as a centre of excellence for compact tracked loaders and skid steer loaders, while benefitting from the global capacity and resources of the Yanmar Group.”
Read the article online at: https://www.worldcement.com/the-americas/13092019/yanmar-completes-acquisition-of-asv-holdings/
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