INDUSTRY NEWS
INDUSTRY NEWS
Terex Purchases Environmental Solutions Group From Dover Corporation
Terex Corporation has finalized the acquisition of Environmental Solutions Group( ESG) from Dover Corporation in a strategic all-cash transaction valued at $ 2.0 billion, or $ 1.725 billion, when adjusted for tax benefits of approximately $ 275 million. The acquisition, aimed at bolstering Terex ' s environmental solutions offerings, is projected to significantly enhance the company ' s revenue growth and financial metrics, including free cash flow, EBITDA margin, and earnings per share( EPS).
The acquisition is expected to contribute double-digit percentage adjusted EPS accretion by 2025, with continued growth thereafter. ESG, which operates in the waste and recycling sector, has maintained a long-term organic revenue compound annual growth rate of over 7 % for the past decade. The transaction represents about 8.4 times the estimated 2024 EBITDA, factoring in expected synergies.
With ESG under its umbrella, Terex will see an
increase in its North American revenue share, growing from 61 % to 67 % based on the last 12 months ' results as of Q2 2024. ESG holds the leading market position in refuse collection vehicles and waste compaction equipment, with well-known brands like Heil, Marathon, Curotto-Can and digital solutions 3rd Eye and Soft-Pak.
Brandt Adds McCoy to Material Handler Dealer Network in US
Brandt Industries has partnered with McCoy Construction & Forestry to expand access to its new purpose-built Brandt material handler for the U. S. metal recycling industry.
“ We are excited to serve the metal recycling industry by partnering with a company that shares our belief in putting customers and their needs first,” Jason Klassen, Brandt senior vice president sales, manufactured products, said.
“ Teaming up with McCoy Construction & Forestry will help us expand our reach to deliver superior material handling equipment to customers in the Midwest,” Klasssen added.
The collaboration allows Brandt to extend its reach across the Midwest through McCoy’ s 25 locations in states such as Michigan, Minnesota and Illinois.
30 October 18, 2024 www. contractorshotline. com