FAYAT Completes Deal, Fully Acquires LeeBoy

Three months ago, FAYAT, a family-owned global leader in construction equipment who reported $5.7 billion in revenue for 2024, shook the asphalt industry to the core with their planned acquisition of the Lincolnton, North Carolina, based manufacturer.

When the news first broke, it was originally thought that the deal might not close until the end of Q4 2025, but has now been fully completed and was announced by the company on Sept. 4, 2025. Now, the real work begins.

With this purchase, the FAYAT Group now controls three major manufacturers in the U.S. asphalt space: BOMAG, Dynapac, and, now, LeeBoy. Effectively, this puts them in control of approximately 30% of the major U.S. asphalt paver brands. That's a significant amount of power to wield across the estimated $1.1 billion dollar asphalt paver market in North America, which is projected to grow to $1.5 billion by 2033.

FAYAT emphasized that LeeBoy will retain its identity and autonomy, ensuring the brand continues to deliver the equipment and service its customers depend on. At the same time, LeeBoy will benefit from investments in manufacturing, research and development, and expanded resources available through the FAYAT Group.

What the industry waits to see now, is how this will all play out over the coming years.FAYAT Group

The Past, Present And Future For LeeBoy

LeeBoy has been a staple in the asphalt paving and maintenance industry for more than 60 years, producing equipment such as asphalt pavers, distributors, brooms and chip spreaders. Moreover, they are extremely well known by not only road builders, but have been popular amongst weekend warriors and contractors starting out in the space.

Perhaps, most well known among their users is the crew at American Pavement Specialists, better known as "Raised On Blacktop" group started by the Stanley family.

With LeeBoy now apart of the FAYAT Road Equipment Division, it expands the division’s network to 30 production sites worldwide. With this acquisition, FAYAT is increasing its presence in the commercial and municipal paving sectors in the United States and Canada — markets the company has identified as strategic priorities.

Beyond the other paver brands, the move also positions LeeBoy alongside other established brands within FAYAT’s portfolio, including Asphalt Drum Mixers (purchased in 2024), Ravo, Scarab, Dulevo, Charlatte, and Mecalac. Together, these brands create a broader range of options for road-building customers across North America.

Jean-Claude Fayat, President of the FAYAT Group, said the acquisition is about strengthening the group’s ability to meet the evolving needs of the asphalt industry:

Adding LeeBoy’s highly respected equipment offering will enable FAYAT to better serve road-building customers with a more comprehensive range of solutions. The acquisition presents many opportunities for collaboration with other brands within our Road Equipment Division in the areas of research and development, manufacturing, technology, purchasing, sales and exploring select international markets. We are dedicated to investing in the LeeBoy team and the local workforce, and to building on LeeBoy’s strong culture to deliver even greater value and innovation in the years ahead for LeeBoy customers.

FAYAT Group

For more information, visit www.leeboy.com.