Alamo Completes Specialized Acquisition
Alamo Group Inc. (ALG) announced that it has completed the previously announced acquisition of the operating units of Specialized Industries, LP, an ELB Capital Management company, for approximately $190 million. The acquisition includes the businesses of Super Products LLC, a manufacturer of vacuum trucks and related equipment, parts and service; Wausau-Everest LP, a supplier of snow removal equipment; and Howard P. Fairfield LLC, a dealer/distribution operation primarily in the New England area.
Together, the three acquired businesses had net sales of $146.7 million last year. Super Products and Wausau-Everest are both based in New Berlin, Wis., with Howard P. Fairfield headquartered in Skowhegan, Maine. The units in total have approximately 440 employees. Specialized's President and CEO, Rod Winter, will continue as head of the operations, which will now become part of Alamo's North American Industrial Division led by Jeff Leonard, executive vice president of Alamo's Industrial Division.
Founded in 1969 and headquartered in Seguin, Texas, Alamo Group manufactures equipment for infrastructure maintenance, agriculture and other applications. Its products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements and related after-market parts and services.