Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
NACCO Industries, Inc.
Spin-off of Hyster-Yale Materials Handling, Inc.
Baird served as financial advisor to NACCO Industries, Inc.
NACCO Industries, Inc. (NYSE: NC) (“NACCO”) recently completed the spin-off of its materials handling business, Hyster-Yale Materials Handling, Inc. (NYSE: HY) (“Hyster-Yale”) to NACCO’s shareholders. NACCO distributed a dividend of one share of Hyster-Yale Class A and one share of Hyster-Yale Class B common stock to holders of each share of NACCO Class A and Class B common stock.
Hyster-Yale Materials Handling, Inc. designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names. For the last twelve months ended June 30, 2012, Hyster-Yale reported total revenue of $2.5 billion. Hyster-Yale is headquartered in Cleveland, Ohio.
NACCO Industries, Inc. is an operating holding company with subsidiaries in the following principal industries: mining, small appliances and specialty retail. The North American Coal Corporation mines and markets steam and metallurgical coal for use in power generation and steel production and provides selected value-added mining services for other natural resources companies. Hamilton Beach Brands, Inc., is a leading designer, marketer and distributor of small electric household appliances, as well as commercial products for restaurants, bars and hotels. The Kitchen Collection, LLC is a national specialty retailer of kitchenware and gourmet foods operating under the Kitchen Collection® and Le Gourmet Chef® store names in outlet and traditional malls throughout the United States. Nacco is headquartered in Cleveland, Ohio.