SEGUIN, Texas, Aug. 8, 2017 /PRNewswire/ -- Alamo Group Inc.
(NYSE: ALG) announced that effective today it has acquired R.P.M.
Tech Inc. ("R.P.M."), a manufacturer of heavy duty snow removal
equipment, mainly mechanical snow blowers and associated
parts. The primary end-users of R.P.M. products are
governmental agencies, related contractors, airports and other
industrial users. R.P.M. is located in Drummondville, Quebec, Canada, and had sales
of approximately C$25.0 million in
their last fiscal year ending May 31,
2017. The purchase price for all of the outstanding shares
of stock was approximately C$16.7
million, subject to adjustment in accordance with terms of
the Share Purchase Agreement.
R.P.M. will become part of Alamo's Industrial Division and will work
closely with the Company's nearby Tenco operations located in St.
Valerian, Quebec.
Ron Robinson, Alamo Group's
President and Chief Executive Officer commented, "R.P.M. is a
company we have known and worked with for many years and we feel
they will be an excellent addition to Alamo. Their range of
snow throwers will be a nice complement to our existing range of
snow removal products."
R.P.M. was owned by Fiducie Familiale Piamvic, Fiducie Familiale
Pouanneli and Gestion Iamvic Inc. and led by Pierre Bernard. Pierre commented, "We are
pleased to be joining our company with Alamo as we feel they will continue on the
same path of building high quality equipment and they can provide
the resources to take R.P.M. to the next level."
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution
and service of high quality equipment for infrastructure
maintenance, agriculture and other applications. Our products
include truck and tractor mounted mowing and other vegetation
maintenance equipment, street sweepers, snow removal equipment,
excavators, vacuum trucks, other industrial equipment, agricultural
implements and related after-market parts and services. The
Company, founded in 1969, has approximately 3,225 employees and
operates 25 plants in North
America, Europe,
Australia and Brazil as of June
30, 2017. The corporate offices of Alamo Group Inc.
are located in Seguin, Texas and
the headquarters for the Company's European operations are located
in Salford Priors, England.
Forward Looking Statements
This release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which
may cause the Company's actual results in future periods to differ
materially from forecasted results. Among those factors which could
cause actual results to differ materially are the following: market
demand, competition, weather, seasonality, currency-related issues,
and other risk factors listed from time to time in the Company's
SEC reports. The Company does not undertake any obligation to
update the information contained herein, which speaks only as of
this date.
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SOURCE Alamo Group Inc.