Fayat to acquire Bomag Company
In a deal expected to have been finalized last month, SPX Corp. has announced it has reached an agreement to sell its Bomag Company to the Fayat Group for a reported $446 million in cash. Bomag was expected to have 2004 revenues of roughly $490 million.
A world leader in the compaction industry, Bomag has seven subsidiaries (in the United States, Canada, Austria, France, the United Kingdom, and Japan) and four production facilities (two in the U.S., one in Germany, and one in China). Bomag employs 1,600 people and has 500 distributors worldwide.
In addition to a variety of heavy and light soil and asphalt compaction equipment, Bomag also markets the Propaver hot mix asphalt paver.
The Fayat Group is a privately owned business based in Bordeaux, France. Fayat has 75 companies and employs 7,700 people, and roughly 20% of its business includes road building equipment.
Wooster Hydrostatics acquires Fluid Power Solutions
Wooster Hydrostatics, Wooster, OH, announced it has acquired Fluid Power Solutions, Hilliard, OH, a full-service distribution company and designer and builder of hydraulic power systems.
Carl Robinson, Wooster national sales manager, said the acquisition enables Wooster Hydrostatics to become more diversified in the fluid power marketplace.
"The purchase of Fluid Power Solutions continues to enhance the growth in service and remanufacturing categories within Wooster Hydrostatics," Robinson says.
Fluid Power Solutions President Mike Rogers said the merger will add technical support and application engineering to the Wooster Hydrostatics Service Group while expanding repair capacity to Fluid Power Solutions.
NLB opens California office
NLB Corp. recently opened a branch office in California, bringing to five the number of NLB regional offices throughout the United States.
Edward Regnier manages the branch, which sells, rents, and leases NLB's high-pressure and UHP water jet pump units. The location also offers factory-trained service and a showroom.
The new facility is located in Long Beach at 1323 E. Hill St., Signal Hill, CA 90755; phone 877-652-2254.
Symbiot merges with Snow Management Group
Symbiot Business Group and Snow Management Group have announced an agreement to merge the organizations and property service lines.
Symbiot is a provider of property services to more than 600 sites across the United States. Snow Management Group (SMG) is a division of Allin Companies that maintains more than 5,000 sites in 42 states.
Under the agreement, SMG will merge operations and convert to the Symbiot name and will continue snow and service contract management operations from its Erie, PA, facilities.
"This merger brings together two leading solution providers in their respective areas of landscape/snow management industry," said Bruce Wilson, Symbiot CEO and director of Symbiot Landscape Network. "It offers both companies' clients stronger and end-to-end support including streamlined operating efficiencies and unsurpassed industry experience."
AEMA, ARRA, ISSA to hold joint meeting
Three industry associations once again will hold their annual meeting jointly under the theme Teamwork 2005: Preservation & Rehabilitation.
The Asphalt Recycling & Reclaiming Assoc., International Slurry Surfacing Assoc., and Asphalt Emulsion Manufacturers Assoc. will meet March 2-5 in Bal Harbour, FL.
For information phone 410-267-0023.
Michael A. Pemberton is president and chief operating officer of Unique Paving Materials Corp., Cleveland...Ron Macey is the new owner of Keizer-Morris International, formerly Keizer-Morris Inc.
At Stone Construction Equipment Inc., Honeoye, NY, Lynne Woodworth is president and CEO. Also at Stone, Edward Christopher is director of international sales, and Erik Peterson is district manager for Iowa, Minnesota, Nebraska, North Dakota, South Dakota, Wisconsin, and parts of Canada...At Federal Signal Environmental Products Group, Elgin, IL, Craig Dow is group international sales manager and Bill Krupowicz is vice president and general manager of refuse (Leach body business).