Bandit Industries to become 100 per cent employee owned

Bandit Industries
June 12, 2018
By Bandit Industries
June 12, 2018 - Bandit Industries owners Mike Morey Sr., Dianne Morey and Jerry Morey announced on June 7 they would sell 100 percent of the company to their employees in an employee stock ownership plan (ESOP). Under the ESOP, Bandit will retain its current leadership and key management personnel will remain in place. It will also allow Bandit to always remain Bandit.

The announcement comes after two previous attempts to sell Bandit Industries – once to another manufacturer and once to a private investment firm.

“We realized neither was a good fit for Bandit, so we made the decision to sell to our trusted employees,” said Dianne Morey.

“It will be fun to watch our crew take it to the next level,” said Mike Morey, who developed the very first Bandit chipper in 1983 and founded Bandit Industries.

Bandit is growing rapidly with 20% growth per year with two plant expansions currently underway and several new products being introduced later this year.

Bandit also recently entered into an agreement with ARJES GmbH, a leading slow speed shredder manufacturer from Germany. Bandit will sell and distribute the ARJES products in the Americas, Australia, New Zealand, South Africa, Indonesia and other parts of the world. The product line is amazing and will shred almost anything, including cement with rerod, asphalt, steel belted tires and complete cars and trucks.

Bandit will celebrate its 35th anniversary this September with a dealer meeting and a field day open to the public. All of the Bandit products will be shown, including the new products that are about to be released and the ARJES line of shredders.

“We are a leading supplier in all of the markets that we are in,” said Jerry Morey. “We have a very strong, dedicated dealer organization and a great crew, which is the key to our success. Our employees are experienced, smart and loyal to us. That is why we are so confident that an employee owned company is the right fit for Bandit. All our employees will have a stake in the company.”

For more information
www.banditchippers.com

Add comment

All comments are vetted by Canadian Rental Service editorial staff before posting. Comments soliciting business or promoting specific products or services will not be posted. Defamatory or abusive language will result in banning from the site.


Security code
Refresh

Coming Events

Landscape Ontario Congress
January 8-10, 2019
World of Concrete
January 22-25, 2019
Canadian Concrete Expo
February 6-7, 2019
The Rental Show
February 17-20, 2019
IPAF Summit
March 6, 2019

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.