Summary
- Alamo Group has agreed to acquire Morbark for $352 million.
- Morbark has developed a family of vegetation and land management equipment.
- With the acquisition, Alamo is continuing to acquire vegetation equipment makers as part of an international expansion effort in a growing industry.
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Quick Take
Alamo Group (ALG) announced it has agreed to acquire Morbark for $352 million.
Morbark operates as a manufacturer of forestry- and land management-related equipment and aftermarket parts.
With the second vegetation management equipment acquisition in seven months, ALG is aggressively purchasing the pieces it needs to pursue international expansion.
Target Company
Winn, Michigan-based Morbark was founded in 1957 to manufacture equipment and aftermarket parts for the forestry, tree maintenance, biomass, land management and recycling industry verticals.
Management is headed by CEO Dave Herr, who has been with the firm since 2016.
