Alamo Group acquired Gradall excavator business for $39.4 million, a transaction completed in February 2006, structured as asset purchase, all cash. The deal was a Asset purchase.
Gradall excavator business operates in Industrial Equipment, is based in New Philadelphia, Ohio, USA, had revenue of about approximately $75.6 million (FY ended July 31, 2005). Alamo purchased substantially all of the assets of the Gradall excavator business from JLG Industries on February 3, 2006 for about $39.4 million, including the manufacturing plant in New Philadelphia, Ohio. Gradall, a leading maker of wheeled and crawler telescopic excavators in North America, had excavator revenues of roughly $75.6 million for its fiscal year ended July 31, 2005.
Alamo said over half of Gradall's sales were to governmental buyers and contractors for grading and maintenance along rights-of-way, making it an ideal fit for its Industrial Division and expanding market coverage.
Alamo Group Industrial Equipment Division
This is an exciting development for Alamo and one that will be synergistic to our business. Over half of Gradall's sales are to governmental buyers and related contractors for grading and maintenance along right-of-ways, which makes it an ideal fit with our Industrial Division.Ron Robinson, President and CEO, Alamo Group
Advisory firms were not disclosed for this transaction.