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ouglas Dynamics, Inc. (NYSE:PLOW), North America's premier manufacturer and upfitter of work truck attachments and equipment, today announced that it has completed the acquisition of substantially all the assets of Venco Venturo Industries LLC, a well-established and highly-regarded provider of truck-mounted service cranes and dump hoists.
Mark Van Genderen, President and CEO of Douglas Dynamics, noted, "This acquisition represents a meaningful first step in the execution of our Activate strategic pillar, which is focused on acquiring complex attachments to diversify and balance our portfolio. Led by three generations of the Collins family, the Venco Venturo team has built a tremendous reputation for its commitment to quality and reliability. When combined with Douglas Dynamics' attachment expertise and experience at scale, we believe there is significant opportunity to drive profitable growth in the years ahead."
Founded in 1952, Venco Venturo Industries LLC has been privately-owned and operated by the Collins family for more than 70 years. The firm provides a full line of electric light-duty cranes, electric-hydraulic cranes, hydraulic cranes, and conversion/dump hoists for work trucks. Located in Sharonville, a suburb of Cincinnati, Ohio, Venco Venturo Industries LLC employs 70 people in two facilities serving customers across the United States.
The acquisition of the Venco Venturo Industries LLC assets is expected to be modestly accretive to earnings per share and free cash flow positive before synergies in 2026. Venco Venturo Industries LLC will operate as a division of the Work Truck Attachments segment reporting to Chris Bernauer, President, Work Truck Attachments.
Terms of the deal were not disclosed. Hanley, Hamill, Thomas, Inc. and D.A. Davidson & Co. served as financial advisors, and Foley & Lardner LLP served as legal advisor to Douglas Dynamics.
Posted In: PLOW
