Morbark acquires Boxer Equipment from Mertz Manufacturing

Jan. 21, 2013 – Morbark, a leading manufacturer of tree care, sawmill,
recycling, forestry and biomass chipping, and grinding equipment, has announced
that it has completed the acquisition of Boxer Equipment, a product line
of Mertz Manufacturing, that manufactures and globally markets a full line of
compact utility loaders (also known as mini-skid steers) and attachments.

As part of
the transaction, Morbark has acquired all product designs, intellectual
property and manufacturing tools, as well as existing parts, completed units
and other inventory. The Boxer acquisition will enable Morbark to continue to
solidify the company’s strategy to build equipment that creates opportunities
for their customers, dealer network and employees. This acquisition not only enhances
those opportunities in Morbark’s existing tree service and rental markets, but
also allows Morbark to expand their market presence and current equipment
offerings to a broader range of industries and end users, including, but not
limited to, landscapers, irrigation and trenching contractors, property owners
and general contractors of all sizes.

Steve
Ballinger, president of Mertz, added, “In seeking the optimal buyer for the Boxer
product line, we looked for a company that had its own manufacturing capability,
as well as shared our desire to see the line continue to develop, grow and
realize its full potential. We know without a doubt that Morbark shares this
same vision and will apply the necessary resources to bring it to fruition.”

Manufacturing
of the Boxer Equipment line, attachments and aftermarket parts, is currently
being moved to Morbark’s 1.1 million-square-foot factory and corporate
headquarters in Winn, Michigan. As manufacturing of the Boxer line begins in
the first quarter of 2013, Morbark will be working with their authorized dealer
network to ensure that existing and future customers receive unmatched service,
after-sales support and fast, efficient parts fulfillment.

Commenting
on the close, Jim Shoemaker, Jr., president of Morbark, said, “The strong strategic
fit between our companies, combined with Morbark’s expanded capabilities in
product development, manufacturing and dealer distribution will enable us to
efficiently maximize the value and long-term potential of the Boxer product
line, allowing it to become one of the market leaders in the compact utility
loader category.”

Related Link
www.morbark.com