Alamo Group acquired Specialized Industries LP for $192.9 million, a transaction completed in May 2014, structured as all cash.
Specialized Industries LP operates in Industrial Equipment, is based in North America. Alamo entered an agreement on February 24, 2014 and closed on May 13, 2014 to acquire all of the operating units of Specialized Industries LP for a total acquisition price of about $192.9 million. The purchase brought in Super Products (industrial vacuum trucks), Wausau-Everest (snow and ice control equipment) and Howard P. Fairfield (H.P. Fairfield) along with their brands and trademarks.
Alamo said the deal broadened its existing equipment lines and enhanced its market position in both vacuum trucks and snow-removal equipment, primarily in North America.
expected synergies across the vacuum truck and snow-removal product lines Alamo Group Industrial segment
On February 24, 2014, Alamo Group, Inc. and Alamo Group (USA) Inc., a wholly-owned subsidiary of the Company, entered into a Membership Interests and Partnership Purchase Agreement to acquire the operating units of Specialized Industries LP.Alamo Group Inc. Form 8-K, Item 1.01 (Feb. 28, 2014)
Advisory firms were not disclosed for this transaction.