Alamo Group Inc. has entered into a letter of intent to acquire Michigan-based Bandit Industries, Inc. Alamo, which made the announcement this week, is the parent company of agricultural equipment brands such as Bush Hog, Rhino and EarthMaster.
"Bandit is a well-respected and major player in the tree care, land and utility line clearing, recycling and biomass energy markets," says Ron Robinson, president and CEO, Alamo Group. "This acquisition would greatly broaden our presence in the area of vegetation maintenance. We believe this combination would be further enhanced by Alamo’s strong international presence."
Founded in 1983, Bandit had sales of $107 million in fiscal year 2012. Its products include wood and brush chippers, whole-tree chippers, stump grinders and forestry mowers. Upon completion of the transaction, Bandit manufacturing and operations would continue to take place at its facilities in Remus, Mich.
"Bandit and Alamo are a strong combination that we feel will be beneficial to both companies," says Jerry Morey, president, Bandit. "Alamo shares our dedication to our customers and markets and is committed to Bandit’s continued growth."