JLG announced Feb. 3 it has sold its line of Gradall excavators to the Alamo Group, a company that makes equipment for right-of-way maintenance and agricultural applications, in order to increase its focus on core products.
“This is an exciting development for Alamo and one that will be synergistic to our business,” said Ron Robinson, president and CEO of Alamo Group. “Over half of Gradall’s sales are to government buyers and related contractors for grading and maintenance along right of ways, which makes it an ideal fit with our industrial division.”
The purchase price was $39.4 million, subject to adjustments, and is expected to be accretive to Alamo’s earnings in 2006. The sale includes the 430,000-square-foot manufacturing facility in New Philadelphia, Ohio, and all related equipment, machinery, tooling and intellectual property. The Alamo Group said it will retain a majority of the Gradall workforce, numbering about 400.