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Gehl Co. acquired by Manitou BF S.A.

Gehl Co., West Bend, WI, has agreed to be acquired for $30 per share by its largest shareholder, Manitou BF S.A., a manufacturer and distributor of material handling equipment headquartered in France. The total value of the transaction is approximately $450 million.

“We are pleased to announce the next step in the evolution of Gehl Company toward becoming a more significant player in the global compact equipment marketplace,” said William D. Gehl, chairman and CEO. “The combination of Gehl Company and Manitou offers a substantial value to our shareholders today while affording our dealers and employees with future opportunities for continued success.”

Gehl said the current management team will likely be retained following the transaction.

Roadtec acquires JR’s Welding

Astec Industries Inc. announced its Roadtec Division will acquire assets and key personnel of JR’s Welding Inc., a rebuilder and manufacturer of asphalt milling drums and cutter housings, Norwalk, OH.

Jeff Richmond, president of Roadtec, said JR’s Welding will relocate to Chattanooga, TN, with key personnel Jeff Rule and Jeff Rule Jr.