ASV Holdings, Inc., a provider of rubber-tracked compact track loaders (CTLs) and wheeled skid steer loaders (SSLs) in the compact construction equipment market, announces that it has entered into a definitive merger agreement with an affiliate of Yanmar Holdings (Yanmar).
The combination of ASV’s compact track loaders and skid steer loaders with the compact equipment portfolio of Osaka, Japan-based Yanmar, creates a comprehensive and global provider of compact equipment with virtually no overlap in distribution networks. The ASV employee base, its manufacturing and distribution facility, international distribution network, and supply chain creates a strong platform for North American expansion and will be a key part of Yanmar’s long-term international growth plans.
The transaction is subject to approval by ASV stockholders and other customary closing conditions and is expected to close in the third quarter of 2019. In conjunction with the Merger Agreement, a subsidiary of Terex Corporation, which owns 34 percent of the outstanding shares of ASV, has entered into a stockholder voting agreement in support of the Merger.