Alamo Group Inc., a prominent leader in manufacturing industrial and vegetation management equipment, acquired Petersen Industries, Inc., a company known for making truck-mounted grapple loader equipment. The deal is valued at USD 166.5 million, subject to adjustments after the closing. The acquisition will be financed through an integration of cash and available credit. The adjusted purchase price, after accounting for expected tax benefits, is around USD 150 million.
Petersen, based in Lake Wales, Florida, is a market leader in providing equipment utilized by governments as well as waste management companies for collecting bulky waste. With over 65 years of experience, Petersen has been a major innovator in making waste collection safer, faster, and more efficient. The company achieved USD 75 million in revenue in 2024.
Robert Hureau, Alamo Group’s President and CEO, stated excitement about the acquisition, seeing it as a perfect fit with Alamo Group's strategy to acquire profitable companies with innovative product range. He believes the acquisition will lead to cost savings as well as new growth opportunities by integrating Petersen into Alamo Group’s supply chain and dealer networks.
The acquisition is projected to be concluded in the first quarter of 2026, pending regulatory approval. Alamo Group expects the deal to contribute to its growth and margins, as well as provide steady revenue from Petersen’s parts and services. D.A. Davidson & Co. and Dykema Gossett PLLC advised Alamo Group on the deal.