M&A Deal Summary

Alamo Group Acquires Morbark

On September 11, 2019, Alamo Group acquired machinery company Morbark from Stellex Capital Management for 352M USD

Acquisition Highlights
  • This is Alamo Group’s 11th transaction in the Machinery sector.
  • This is Alamo Group’s largest (disclosed) transaction.
  • This is Alamo Group’s 8th transaction in the United States.
  • This is Alamo Group’s 1st transaction in Michigan.

M&A Deal Summary

Date 2019-09-11
Target Morbark
Sector Machinery
Buyer(s) Alamo Group
Sellers(s) Stellex Capital Management
Deal Type Add-on Acquisition
Deal Value 352M USD

Target

Morbark

Winn, Michigan, United States
website
Morbark LLC is a manufacturer of equipment and aftermarket parts for forestry, tree maintenance, biomass, land management, and recycling markets. Morbark offers a full line of flails, disc and drum tree chippers, brush chippers, horizontal and tub grinders, stump grinders and more. Morbark equipment helps customers harvest, process and convert organic materials into valuable, usable and environmentally sound products. Morbark LLC was founded in 1957 and is based in Winn, Michigan.

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Buyer(S) 1

Buyer

Alamo Group

Seguin, Texas, United States

website


Category Company
Founded 1955
Sector Machinery
Employees4,200
Revenue 1.5B USD (2022)
DESCRIPTION
Entrance to Alamo Group's corporate headquarters in Seguin, Texas.
Entrance to Alamo Group's corporate headquarters in Seguin, Texas.

Alamo Group engages in the design, manufacture, distribution and service of equipment for right-of-way maintenance and agriculture needs. Alamo Group was incorporated in 1955 and is based in Sequin, Texas.


DEAL STATS #
Overall 13 of 15
Sector (Machinery) 11 of 11
Type (Add-on Acquisition) 10 of 12
State (Michigan) 1 of 1
Country (United States) 8 of 9
Year (2019) 3 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-05 Textron - Dixie Chopper Business

Providence, Rhode Island, United States

Textron, Inc. - Dixie Chopper Business manufactures a wide range of commercial and high-end residential mowing equipment. The business, which is currently based in Greencastle, Indiana, has been serving this market for nearly 40 years.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-26 Timberwolf

Suffolk, United Kingdom

Timberwolf manufactures a broad range of commercial wood chippers primarily serving markets in the U.K. and the European Union. Timberwolf was founded in 1986 and is based in Suffolk, United Kingdom.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Stellex Capital Management is a private equity firm focused on acquiring middle-market companies throughout North America and Europe. Stellex looks to invest $25 to $150 million in transactions valued up to $500 million. Sectors of interest include manufacturing, industrial, business services, aerospace, defense, government services, automotive, consumer products, distribution, and transportation. Prospective transaction situations include buyouts, turnarounds, recapitalizations, corporate divestitures, consolidations, and secondary purchases. Stellex Capital Management was formed in 2014 and is based in New York City.


DEAL STATS #
Overall 2 of 4
Sector (Machinery) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 2 of 3
Year (2019) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-25 MHI Ship Repair & Services

Norfolk, Virginia, United States

MHI Ship Repair & Services is a marine repair and conversion contractor serving Commercial ship owners, the U.S. Navy, Military Sealift Command and Maritime Administration, and operators worldwide. MHI Ship Repair & Services was established in 1952 and is based in Norfolk, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 Vigor Industrial

Portland, Oregon, United States

Vigor Industrial is a diversified industrial business specializing in shipbuilding, ship repair, and handling important, complex projects in support of energy generation, the nation’s infrastructure, and national defense. With a deep respect for people and the planet, the company strives to be a positive, regenerative force for good environmentally, in the lives of its employees and in the community. Vigor was formed in 1916 and is based in Portland, Oregon.

Buy -