Yanmar Group has announced the completion of its acquisition of compact equipment manufacturer ASV Holdings Inc. (ASV), a designer and manufacturer of compact tracked loaders and skid-steer loaders. The announcement is the final step in the acquisition, following on from a disclosure in June 2019 of a definitive agreement to acquire the company through the mechanism of a statutory merger.
Yanmar has acquired 100% of ASV’s outstanding shares of common stock for total consideration of $70.70 Million, or $7.05 per share. ASV’s independent dealer network throughout North America, Australia and New Zealand will join Yanmar’s existing global construction equipment operations. The company also sells OEM equipment and aftermarket parts, and owns and operates a 238,000 sq. ft. production facility in Grand Rapids, Minn.