Yanmar has announced its entry into a definitive agreement to acquire equipment manufacturer ASV, a designer and manufacturer of compact track loaders and skid steer loaders. Yanmar is to acquire ASV through a statutory merger.
According to a press release, the acquisition will complete Yanmar’s range of compact equipment products and contribute to Yanmar’s prospects for growth in North America and globally.
“I have no doubt that our design, manufacturing, and distribution expertise will find a welcome home in the Yanmar Group as we share a common vision to provide the highest-quality products,” Andrew Rooke, chairman and CEO of ASV, said i. “ASV’s merger with Yanmar will ensure a vibrant future providing quality machinery for our customers and will provide a great opportunity for ASV employees to join a growing global company.”
Yanmar will acquire 100 percent of ASV’s stock shares for $70.70 million, or $7.05 per share. The transaction is expected to close in Q3 2019.
Source: Yanmar
