Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Details below.
Douglas Dynamics, Inc. (NYSE:PLOW) today announced that it has completed the acquisition of Henderson Products, Inc. for approximately $95 million in cash, subject to post-closing adjustments. The signing of the definitive purchase agreement for the acquisition was previously announced on November 24, 2014.
Douglas Dynamics said the purchase strengthens its market leadership position in snow and ice control across all truck segments and creates new opportunities for growth in attractive adjacent markets. Headquartered in Manchester, Iowa, Henderson Products, Inc. is the leading North American manufacturer of customized, turnkey snow and ice control solutions for heavy-duty trucks focused on state Departments of Transportation (DOT), counties, and municipalities.
“Henderson’s diverse product portfolio includes ice control equipment, snow plows, dump bodies, muni-bodies, and replacement parts”, the company said. Henderson generated $76 million in net sales over the trailing twelve months ending September 30, 2014.
In a statement the company further said:
“Home to the most trusted brands in the industry, Douglas Dynamics is North America’s premier manufacturer of vehicle attachments and equipment. For more than 65 years, the company has been innovating products that not only enable people to perform their jobs more efficiently and effectively, but also enable businesses to increase profitability. Our commitment to continuous improvement enables us to consistently produce the highest quality products and drive shareholder value. The Douglas Dynamics’ portfolio includes snow and ice management attachments sold under the BLIZZARD, FISHER, SNOWEX and WESTERN brands, turf care equipment under the TURFEX® brand, and industrial maintenance equipment under the SWEEPEX brand.”
