The ASH Group entered into a Purchase Agreement to acquire all of the interests of two North American snow and ice management equipment producers, Meyer Products LLC and Swenson Spreader LLC. Both companies are owned by the Louis Berkman Work Products Company LLC, Steubenville, Ohio and the transaction is expected to be closed by the end of September 2015. Both companies will provide the ASH Group with a very significant footprint in the important North American snow and ice management market.
Meyer Products LLC, a long-established company located in Cleveland, Ohio, is one of the market-leading snow and ice management equipment producers in North America. The company manufactures snowplows as well as spreaders and sells them mainly to the light and medium duty segment of the market.
Swenson Spreader LLC is located in Lindenwood, Illinois and is a leading producer of communal snow and ice management equipment in the heavy duty segment. The product portfolio includes high performance spreaders, mounted on trucks or utility vehicles, among other products.
The acquisition will help to leverage ASH`s knowhow into the key North American market to create new and innovative products to fit the needs of key strategic customers. “We have noticed an increasing demand in the North American market for innovative products and client-focused and sustainable solutions for snow and ice management.” Walter T. Vogel, Chairman of ASH Group. Furthermore: “The symbiosis of Meyer’s and Swenson’s existing product technologies, together with product solutions of the ASH Group, will strengthen the position of our new subsidiary in the North American market.
Meyer Products LLC, as well as Swenson Spreader LLC, will form together the ASH North American division of the ASH Group.