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Slide #44. Alamo Group Inc. — Bandit Industries
Alamo Group Inc. (NYSE:ALG)
Alamo Group Inc. (NYSE: ALG) announced that it has entered into a letter of intent to acquire Bandit Industries, Inc. and its related affiliates. Bandit is a leader in the design, manufacture, distribution and service of wood and brush chippers, whole tree chippers, stump grinders, forestry mowers and other related equipment. Bandit's 2012 fiscal year sales were approximately $107 million and it has over 400 employees. Alamo Group and Bandit have received approval for the acquisition under the Hart-Scott-Rodino Act. The finalization of the transaction is subject to completion of an acquisition agreement and certain other pre-closing requirements.
Alamo Group is engaged in the design and manufacture of agricultural equipment and infrastructure maintenance equipment for governmental and industrial use. Co.'s products include tractor-mounted mowing and other vegetation maintenance equipment, street sweepers, excavators, vacuum trucks, forestry and tree maintenance equipment, snow removal equipment, leaf collection equipment, pothole patchers, zero turn radius mowers, agricultural implements and related aftermarket parts. Co. sells its products primarily through a network of independent dealers and distributors to governmental end-users, related independent contractors, as well as to the agricultural and commercial turf markets.
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Strong Buy (3.50 out of 4)