Epiroc, a Swedish company that produces mining and infrastructure equipment, has announced it is buying Wain-Roy, a U.S. manufacturer of excavator attachments for the construction industry.
Wain-Roy is based in Kronenwetter, Wisc., and is part of Oregon Tool, Inc. Wain-Roy’s has about 100 employees and annual revenues of about MSEK 200 (Swedish krona) or $18.43 million.
“Wain-Roy is known for its high-quality products and competence,” said Helena Hedblom, Epiroc’s president and CEO. “This acquisition will strengthen our presence in the North American construction market and increase our capacity for manufacturing advanced attachments in that region.”
The acquisition is expected to be completed in the fourth quarter 2022. The transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation.
Epiroc, in its third quarter report, said orders were down 10% and supply chain issues have inhibited sales. Demand has remained high, with many construction companies wanting automated and digital machines to help improve emissions levels and to increase safety. Profits increased 31%, supported mostly by the aftermarket, the company reported.
