November 1, 2019
Yanmar finalizes ASV acquisition
Yanmar Group announced the completion of its acquisition of compact equipment manufacturer ASV Holdings, a designer and manufacturer of compact tracked loaders and skid-steer loaders. The announcement is the final step in the acquisition, following from the June disclosure of a definitive agreement to acquire the company through the mechanism of a statutory merger.
Yanmar, a Japanese equipment manufacturer, acquired 100 per cent of ASV’s outstanding shares of common stock for total consideration of $70.70 million, or $7.05 per share. ASV’s independent dealer network throughout North America, Australia, and New Zealand will join Yanmar’s existing global construction equipment operations. The company also sells OEM equipment and aftermarket parts, and owns and operates a 238,000 sq. ft. production facility in Grand Rapids, Minn.
“We expect ASV to realize significant, channel and product synergies after joining the Yanmar Group,” stated Giuliano Parodi, Executive Officer of Yanmar Holdings. “In addition, the ASV Grand Rapids facility will continue as a center of excellence for compact tracked loaders and skid steer loaders, while benefiting from the global capacity and resources of the Yanmar Group.”