Terex And REV Group Enter Into Definitive Merger Agreement To Merge In Stock And Cash Transaction To Form Specialty Equipment Manufacturer

Author: Benzinga Newsdesk | October 30, 2025 06:22am

• Creates a scaled specialty equipment manufacturer with complementary, leading brands in attractive, low cyclical, highly resilient and growing end markets
   
• Unlocks significant value-creating synergies of $75 million of run-rate value in 2028 with approximately 50% achieved twelve months after closing
   
• Terex to pursue strategic options to exit its Aerials segment, further reducing its exposure to cyclical end markets
   
• Resulting organization will feature low capital intensity, an attractive leverage profile, an efficient cost base with resilient and predictable earnings and free cash flow to enable profitability enhancing and growth investments
   
• Companies to host a joint conference call today at 8:30 AM ET

NORWALK, Conn. and BROOKFIELD, Wis., Oct. 30, 2025 /PRNewswire/ -- Terex Corporation (NYSE:TEX) ("Terex") and REV Group (NYSE:REVG) ("REV Group") today announced that they have entered into a definitive merger agreement to merge in a stock and cash transaction ("the Merger") to form a leading specialty equipment manufacturer.

The Merger will create a diversified leader in emergency, waste, utilities, environmental and materials processing equipment with attractive end markets characterized by low cyclicality, resilient demand and long-term growth profiles. With a substantial U.S. manufacturing footprint, the combined organization will be well-positioned to benefit from domestic demand growth.

Combining the complementary portfolios will unlock significant value-creating synergies totalling $75 million of run-rate value in 2028 with approximately 50% achieved 12 months after closing. Both Terex and REV Group have demonstrated their ability to successfully execute large integrations and deliver expected synergy value.

Today, Terex also announced that it will initiate a process to exit its Aerials segment, including the assessment of a potential sale or spin-off. 

Upon closing of the Merger, Terex CEO, Simon Meester, will serve as President & Chief Executive Officer of the combined company, supported by a proven management team that reflects the strengths and capabilities of both organizations.

Posted In: REVG TEX