Business
ALAMO GROUP INC. TO ACQUIRE PETERSEN INDUSTRIES, EXPANDING ITS INDUSTRIAL EQUIPMENT PRODUCT OFFERING
Alamo Group Inc. (NYSE: ALG), a leading global manufacturer of high-quality industrial and vegetation management equipment, today announced that it has signed a definitive agreement to acquire Petersen Industries, Inc. ("Petersen"), an innovative manufacturer of truck-mounted grapple loader equipment for a purchase price of $166.5 million. The purchase price, which is subject to customary post-closing adjustments, will be financed with a combination of cash on hand and availability under Alamo G
About this update from Alamo Group, Inc.
[{"type":"text","content":"SEGUIN, Texas, Dec. 10, 2025 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG), a leading global manufacturer of high-quality industrial and vegetation management equipment, today announced that it has signed a definitive agreement to acquire Petersen Industries, Inc. ("Petersen"), an innovative manufacturer of truck-mounted grapple loader equipment for a purchase price of $166.5 million. The purchase price, which is subject to customary post-closing adjustments, will be financed with a combination of cash on hand and availability under Alamo Group's credit facility. When adjusted for the present value of expected tax benefits, the purchase price is approximately $150 million. The price represents approximately 7.9x earnings before interest, taxes, depreciation and amortization (EBITDA), not including expected positive run-rate synergies. Upon closing, Petersen will become part of Alamo Group's Industrial Equipment Division.","length":951,"tagName":"p"},{"type":"text","content":"Petersen is the market leader in providing high-quality grapple truck loaders to governmental end-customers for the handling of bulky waste collection. Since its founding more than 65 years ago, Petersen has been at the forefront of innovation in bulky waste collection. Petersen products have transformed how municipalities, public works departments, and private haulers handle large and difficult-to-manage waste, making the process safer, faster, and more efficient. The company, based in Lake Wales, Florida, achieved annual revenue of approximately $75 million in 2024.","length":574,"tagName":"p"},{"type":"text","content":"Robert Hureau, Alamo Group's President and Chief Executive Officer, stated "We are very excited about the prospect of joining Petersen to the Alamo Group family of companies. This acquisition nicely ties to our strategy of acquiring profitable companies with innovative and attractive product portfolios that are market leaders serving stable, steadily growing, end-markets. We believe Petersen products will fit very nicely within our product offering, and under Alamo Group ownership we believe we can unlock significant future cost savings and revenue growth as we integrate the company into our supply chain and dealer networks and expand potential applications for Petersen products."","length":703,"tagName":"p"},...