Bandit Industries has announced that the company will remain privately owned, in the hands of current owners Jerry Morey, Mike Morey Sr. and Dianne Morey. The three have elected to turn down the offer from Alamo Group Inc., negating Alamo’s pending acquisition of Bandit.
"Ultimately, we decided the best future for Bandit and our 400 employees at this time was to remain a private company," said Bandit Industries President Jerry Morey.
This year has been another record sales year for Bandit Industries. The company recently completed a factory expansion of approximately 20,000 square feet, with additional expansions already in the works. The company’s dealer network in the United States and abroad is also expanding, and with demand for Bandit wood processing equipment at an all-time high, the company continues to hire new employees at all levels.
“When we first announced that we were considering offers to sell Bandit, myself, Mike Morey Sr. and Dianne Morey said that we would only sell if it was the right fit,” said Jerry Morey. “We will continue to explore options for a potential sale of the company while sticking to these basic truths that form the core of Bandit Industries.”