Yanmar buys ASV
Yanmar Group completes acquisition of North American loader manufacturer ASV Holdings
Yanmar Group announced the completion of its acquisition of compact equipment manufacturer ASV Holdings, which is renowned for its compact tracked loaders and skid-steer loaders.
Yanmar has acquired 100% of ASV’s outstanding shares of common stock for total consideration of $70.70 Million, or $7.05 per share.
The move will see ASV’s independent dealer network throughout North America, Australia, and New Zealand join Yanmar’s existing global construction equipment operations.
"We expect ASV to realise significant, channel, and product synergies after joining the Yanmar Group," Giuliano Parodi, executive officer of Yanmar Holdings, says.
"In addition, the ASV Grand Rapids facility will continue as a centre of excellence for compact tracked loaders and skid steer loaders while benefiting from the global capacity and resources of the Yanmar Group."
Yanmar says the acquisition strengthens the brand’s range of compact equipment products allowing it to offer full dig, load, carry solutions on the worksite and contribute to the company’s prospects for growth in North America and globally.
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