Sale to Alamo Group Inc.

Industrial
Sale to Alamo Group Inc.

Summary

Baird served as financial advisor to Morbark, LLC on this transaction

About

Morbark, LLC (“Morbark” or the “Company”), a portfolio company of Stellex Capital Management (“Stellex”), was recently acquired by Alamo Group Inc. (“Alamo”) (NYSE: ALG) for $352 million.

Morbark is a manufacturer of highly-engineered, mobile equipment and aftermarket parts used for clearing, grinding / chipping and converting trees, wood and related organic waste in maintenance and recycling applications. The Company, and its affiliate brands, produce a full line of brush chippers, stump cutters, mini skid steers, forestry mulchers, aerial trimmers, whole tree and biomass chippers, flails, horizontal and tub grinders, sawmill equipment, material handling systems and mulcher head attachments for excavators, backhoes and skid steers. Founded in 1957, Morbark has approximately 720 employees. Morbark is headquartered in Winn, Michigan with subsidiary operations in Wooster, Ohio and Roxton Falls, Québec.

Stellex Capital is a private equity manager that invests in and oversees United States and European corporate assets. With $870 million of committed capital, Stellex’s focus is on companies going through business or industry transitions, as well as special situation opportunities. Stellex seeks to identify and deploy capital in opportunities that have the potential to provide stability, improvement, and growth. Portfolio companies benefit from Stellex’s industry knowledge, operating capabilities, network of senior executives, strategic insight and access to capital. Sectors of particular focus include specialty manufacturing, industrial and business services, aerospace & defense, and government services. Stellex has offices in New York and London.

Alamo is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications. Alamo’s products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements and related aftermarket parts and services. Alamo, founded in 1969, has approximately 3,650 employees and operates 29 plants in North America, Europe, Australia and Brazil. Alamo is headquartered in Seguin, Texas.
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Industrial
Sale to Alamo Group Inc.
Date
October 2019
Company
Morbark, LLC
Transaction
M&A
Sectors
Industrial
Target Location
North America

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