French construction equipment manufacturer Fayat Group, parent company for BOMAG and Dynapac, is set to acquire its second company this year after announcing it will purchase LeeBoy for roughly $290 million from Singapore Technologies Engineering.
ST Engineering purchased Leeboy for $129 million (roughly $204 million today when adjusted for inflation) back in 2006. According to ST documents, LeeBoy’s stock was valued at roughly $157 million as of December 31, 2024. Roughly $255 million in 2024 revenue was attributed to LeeBoy, which amounted to earnings of roughly $29 million before tax and interest.
The $290 million aggregate purchase price for LeeBoy puts the company’s enterprise value at 9.3 times LeeBoy’s earnings before interest, tax, depreciation and amortization. The transaction is set to close in the fourth quarter of this year.
LeeBoy’s equipment lineup includes asphalt pavers, motor graders, plate compactors, rollers, road wideners. The company has over 300 dealer locations in North America and is headquartered in Lincolnton, South Carolina, where it also manufactures equipment.
LeeBoy re-entered the compaction equipment market with the launch of its SR48 single-drum soil roller, BR36 vibratory asphalt roller and BR48 asphalt roller in October 2024.
Fayat Group just recently completed its acquisition of fellow French construction equipment manufacturer Mecalac Group. The deal, announced in March, gives Fayat Group a 100% stake in Mecalac, which will join Fayat’s Road Equipment Division and expand it to 29 production sites worldwide.
Fayat Group stated Mecalac will remain autonomous, similar to Fayat’s other brands, and that Mecalac will collaborate with the group’s other business entities on distribution and developing technology.
Equipment World has reached out to LeeBoy for comment.
