Mergers, acquisitions, entries and exits
Doosan Bobcat acquires BOB-CAT Mowers and Steiner and Ryan brands
By Doosan Bobcat
By Doosan Bobcat
Doosan Bobcat has announced it has completed its acquisition of the BOB-CAT Mowers and the Steiner and Ryan brands of grounds maintenance equipment from Schiller Grounds Care, Inc.
“We are pleased and proud to welcome the BOB-CAT, Steiner and Ryan team members into the Doosan Bobcat family,” said Mike Ballweber, president of Doosan Bobcat North America. “We are bringing great people and strong brands into our organization to help further grow our business and reach more customers and markets.”
Doosan Bobcat announced the signing of a definitive agreement in December 2019 to acquire BOB-CAT Mowers and the Steiner and Ryan brands of grounds maintenance equipment, including the Johnson Creek, Wisc., manufacturing facility. Approximately 200 employees at the manufacturing facility and members of the distributor and dealer direct field sales and technical support teams will join Doosan Bobcat.
“A dedicated group has been working on the integration plans, and we are excited about what our expanded team and new brands will accomplish together,” said Ballweber. “This will position Doosan Bobcat to offer a broader range of quality products and solutions to our dealers, distributors and customers.”
The investment is part of Doosan Bobcat’s long-term, strategic growth initiatives as a global leader in the compact equipment industry, in addition to demonstrating its long-term commitment to employees and the communities in which it operates.
Doosan Bobcat was advised by law firm Barnes & Thornburg LLP, and Croft & Bender LP served as financial advisor to Doosan Bobcat. Schiller Grounds Care Inc. was advised by law firm Blank Rome LLP, and BDO Capital Advisers LLC served as financial adviser to Schiller Grounds Care, Inc.