Aebi Schmidt Group to acquire Monroe Truck Equipment
Aebi Schmidt, a global leader in infrastructure and terrain maintenance solutions, will acquire Wisconsin-based Monroe Truck Equipment from Industrial Opportunity Partners.
Monroe is a truck and trailer equipment platform with around $270 million in annual revenue. The addition of Monroe will significantly strengthen Aebi Schmidt’s market position in the United States and globally, boosting the group’s prospects for future growth.
Founded in 1958, Monroe Truck Equipment is a manufacturer, up?tter and distributor of truck and trailer equipment for the municipal and commercial markets, including a strong snow and ice business. Building on its 60 years of industry experience, Monroe offers unrivaled custom engineering, product customization and all-around support for every truck equipment needs.
“With a combined revenue base of around $850 million, the acquisition of Monroe creates a completely new starting position for the further growth of Aebi Schmidt. Adding this strong U.S. player to the Group, we are at the same time signi?cantly improving the geographical diversi?cation of our earnings,” says Barend Fruithof, Aebi Schmidt CEO.
"Monroe has an extremely strong brand and outstanding professionals, and we are very much looking forward to welcoming the Monroe team to the Aebi Schmidt family. This acquisition opens up exciting new business areas for us and will also strengthen our important winter business in particular," says Steffen Schewerda, CEO North America of Aebi Schmidt.
In addition to complementary business activities, Aebi Schmidt will bene?t from Monroe’s state-of-the-art up?tting centers and nationwide distribution network, which provide unparalleled access to services, solutions and cross-selling opportunities with new and existing customers in the United States. Monroe will in turn be able to bene?t from Aebi Schmidt’s global capabilities and integrate resources such as its European winter road maintenance or sweeping technology into its operations.
“At Monroe, we see ourselves as a team of problem solvers dedicated to help our industry advance. That's why Aebi Schmidt is the best owner to take Monroe even further: Not only will there be a wealth of new business opportunities, but we also share common values and put our customers ?rst. I’m convinced Monroe will be very well positioned to continue its track record of strong growth and serving customers,” says Tom Ninneman, CEO of Monroe Truck Equipment.
Upon completion of the transaction, which is expected on or about the end of 2021 pending regulatory approval, Aebi Schmidt will take over all of Monroe’s more than 900 employees, resulting in a total of around 3,000 staff for the group. Monroe will continue to be run by existing management.
https://www.aebi-schmidt.com
https://www.monroetruck.com
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