Industry Update: Construction Machinery & Equipment
VRC is proud to release its latest industry report. The report provides a concise, insightful update on the Construction Machinery & Equipment industry including recent transactions, market multiples, company performance and purchase price allocation percentages.
Industry Highlights
- On October 8, 2024, Terex Corporation announced the completion of its $2.0 billion acquisition of Environmental Solutions Group (“ESG”) from Dover Corporation. The transaction is expected to be double-digit percentage adjusted EPS accretive in 2025, with meaningful growth thereafter. The all-cash transaction is for $2.0 billion, or $1.725 billion when adjusted for the present value of expected tax benefits of approximately $275 million. The acquisition represents approximately a 8.4x EBITDA multiple including expected run-rate synergies.
- On January 2, 2025, Japan-based Tadano completed the acquisition of Manitex International. On September 12, 2024, Tadano announced its plans to acquire all the remaining shares of Manitex that it did not previously own. Tadano first invested in Manitex in 2018 and held 14.5% of the outstanding common shares of Manitex at the time of the September announcement.
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