ASV Holdings, Inc. Has Been Acquired by Yanmar Holdings
THE TRANSACTION
On September 11, 2019, ASV Holdings, Inc. (“ASV”) (NASDAQ: ASV), a leading provider of rubber-tracked Compact Track Loaders (CTLs) and wheeled Skid Steer Loaders (SSLs) to the compact construction equipment market, announced that it has been acquired by an affiliate of Yanmar Holdings (“Yanmar”). The transaction was announced on June 27, 2019 and received approval from ASV stockholders on September 4, 2019. As a result of the completion of the transaction, shares of ASV common stock were removed from listing on the Nasdaq Capital Market on September 11, 2019.
The combination of ASV’s CTLs and SSLs with the compact equipment portfolio of Yanmar creates a comprehensive and global provider of compact equipment with virtually no overlap in distribution networks. The ASV employee base, manufacturing and distribution facility, and international distribution network and supply chain create a strong platform for the North American expansion of Yanmar, which is headquartered in Osaka, Japan. ASV will be a key part of Yanmar’s long-term international growth objectives.
Our Client
ASV HOLDINGS, INC.
ASV is a designer and manufacturer of compact construction equipment. Its patented Posi-Track rubber tracked, multi-level suspension undercarriage system provides a competitive market differentiator for its Compact Track Loader product line with brand attributes of power, performance and serviceability. Its wheeled Skid Steer Loaders also share these brand attributes. The Company sells its OEM equipment and aftermarket parts through an independent dealer network throughout North America, Australia, and New Zealand. ASV operates a 238,000 square-foot production facility in Grand Rapids, MN. For more information visit www.asvi.com.
Transaction Partner
YANMAR
With beginnings in Osaka, Japan, in 1912, Yanmar was the first to succeed in making a compact diesel engine of a practical size in 1933. Then, with industrial diesel engines as the cornerstone of its enterprise, Yanmar has continued to expand its product range, services, and expertise to deliver total solutions as an industrial equipment manufacturer. As a provider of small and large engines, agricultural machinery and facilities, construction equipment, energy systems, marine equipment, machine tools, and components, Yanmar’s global business operations span seven domains. For more details, please visit the official website of Yanmar Co., Ltd.: www.yanmar.com.
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