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ALAMO GROUP COMPLETES PURCHASE OF SPECIALIZED INDUSTRIES FOR $190 MILLION
Source: Alamo Group news release

Alamo Group Inc. announced that it has completed the previously announced acquisition of the operating units of Specialized Industries, LP, a portfolio Company of ELB Capital Management, LLC, for a total consideration of approximately $190 million, on a debt free basis and subject to certain post-closing adjustments.

This includes the businesses of Super Products LLC, Wausau-Everest LP and Howard P. Fairfield LLC.

Super Products is a manufacturer of vacuum trucks and related equipment, parts and service.

Wausau-Everest is a manufacturer of snow removal equipment and Howard P. Fairfield is a dealer/distribution operation primarily in the New England area.

Together, the three businesses had net sales of $146.7 million in the fiscal year ending December 31, 2013. Earnings from Operations and Adjusted Earnings before interest, taxes, depreciation and amortization for the year for the acquired businesses were approximately $13.1 million and $24.1 million, respectively.

Super Products and Wausau-Everest are both based in New Berlin, Wisconsin and Howard P. Fairfield is based in Skowhegan, Maine. The units in total have approximately 440 employees.

Specialized's President and CEO, Rod Winter, will continue as head of the operations, which will now become part of Alamo's North American Industrial Division led by Jeff Leonard, Executive Vice President of Alamo's Industrial Division.


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