Terex Corporation and REV Group will enter into a definitive merger agreement to merge in a stock and cash transaction to form a speciality equipment manufacturer. At the same time, Terex will initiate the process to exit its aerials segment, which includes the assessment of a potential sale. Terex's aerials segment, Genie, has positioned itself as a trusted name in material lifts and mobile elevating work platforms (MEWPs).
Terex has been focusing its business in recent years on acquiring businesses aligned with its future in the recycling equipment markets. Between 2017 and 2019, Terex exited its mobile cranes and construction businesses while simultaneously acquiring Environmental Solutions Group, a manufacturer of waste and recycling equipment.
The merger will create a diversified portfolio in emergency, waste, utilities, environmental, and materials processing equipment with attractive end markets.
Upon closing the merger, Terex CEO Simon Meester will serve as president and chief executive officer of the combined company, supported by a management team that reflects the strengths and capabilities of both organizations.
200 Nyala Farm Road
Westport, CT
US, 06880
Website:
terex.com
245 South Executive Drive, Suite 100
Brookfield, WI
US, 53005
Website:
revgroup.com
6464 185th Ave. NE
Redmond, WA
US, 98052
Website:
genielift.com