Alamo Group to acquire Bandit Industries
By Murray Pollok21 November 2013
Alamo Group has signed a letter of intent to acquire wood chipper specialist Bandit Industries. The deal will add small groundcare equipment such as chippers, stump grinders and wood recyclers to Alamo’s range of truck and tractor mounted mowing equipment, Gradall excavators, street sweepers and snow removal equipment.
Bandit, which reported revenues of US$107 million last year, said it expected the business would remain at its current mid-Michigan location and that the brand, workforce and management team would remain in place. It will become part of Alamo’s North American Industrial division.
Company president Jerry Morey, along with Bandit co-owners Mike Morey Sr (the founder) and Diane Morey, will continue to be involved with the company following the sale and during the transition to Alamo, said Bandit.
Ron Robinson, Alamo Group’s president and chief executive officer, said; “This is an exciting development for Alamo. Bandit is a well-respected and major player in the tree care, land and utility line clearing, recycling and biomass energy markets.
“This acquisition would greatly broaden our presence in the area of vegetation maintenance. We believe this combination would be further enhanced by Alamo’s strong international presence.”
Jerry Morey, Bandit’s president, said; “It was vital for us to find a company that would keep the Bandit name, the operations, the people and everything that has made Bandit such a success.”
“We never considered selling to anyone that might want to just build up the company for liquidation. We wanted a company that was interested in entering the markets we already supply.”
Alamo Group, which has its headquarters in Seguin, Texas, operates18 manufacturing locations in the US, Canada, UK, France and Australia and has 2500 employees. It reported revenues of almost US$630 million last year, of which $165 million was generated in Europe.
It operates primarily in the industrial and agricultural markets. Brands in the US include Terrain King, Tiger, Schwarze, Nite-Hawk, Gradall and VacAll, while its European brands include Bomford, McConnel, Twose, Spearhead, Rousseau, SMA and Faucheux.