Alamo Group Inc. Enters Into Agreement To Acquire Morbark, LLC
Alamo Group, Inc. (ALG)
Last alamo group, inc. earnings: 2/27 04:15 pm
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Source: PR Newswire
SEGUIN, Texas, Sept. 11, 2019 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced that it has entered into an agreement to acquire 100% of the outstanding capital shares of Morbark, LLC, a leading manufacturer of equipment and aftermarket parts for forestry, tree maintenance, biomass, land management and recycling markets. These products are marketed under the Morbark, Rayco, Denis Cimaf and Boxer Equipment brand names. The company's annual sales were $225.5 million in 2018 and the company had trailing twelve month sales of $233 million as of the end of July, 2019. Total consideration for the purchase is approximately $352 million subject to certain adjustments. The acquisition, which is expected to close in the fourth quarter of 2019, is subject to a number of conditions, including the receipt of regulatory approvals and other pre-closing requirements.Morbark was founded in 1957 and is based in Winn, Michigan with subsidiary operations in Wooster, Ohio and Roxton Falls, Quebec
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Sec Filings
- 12/20/24 - Form 8-K
- 12/17/24 - Form 4
- 12/16/24 - Form 144
- ALG's page on the SEC website