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Issue link: http://read.dmtmag.com/i/391459
8 October 2014 Landscape and Irrigation www.landscapeirrigation.com INDUSTRY NEWS Briggs & Stratton Corporation announced Aug. 14 that it has signed a definitive agreement to acquire U.S.-based Allmand Bros., Inc. Founded in 1938 and based in Holdrege, Neb., Allmand is a leading designer and manufacturer of high-quality towable light towers, industrial heaters, and solar LED arrow boards. Allmand has sales of approximately $80 million annually. Briggs & Stratton will acquire all of the outstanding shares of Allmand for approximately $62 million in cash, subject to customary due diligence and working capital adjustments. The transaction is expected to close in the next 30 days. "This acquisition helps us to further our strategic initiative of focusing on attractive higher-margin, commercial end use products," said Todd J. Teske, chairman, president and chief executive officer of Briggs & Stratton Corporation. "The acquisition of Allmand augments our higher-margin commercial product portfolio, expands our market access to include the rental channel, and helps diversify our business into industry segments that we do not meaningfully participate in today. In addition, we believe this acquisition will accelerate our sales growth in the U.S. and abroad. We look forward to welcoming the management team and the employees of Allmand to our team, and building upon the strong foundation that has made Allmand a highly successful company." "For over 75 years, Allmand has been producing innovative products that make customer worksites brighter, warmer, safer, and more productive," said Roger C. Allmand, chairman of Allmand Bros., Inc. "The combination of Allmand with Briggs & Stratton will provide even more opportunities for our people and our customers. With a proven track record of operating successfully for over 100 years, we believe that Briggs & Stratton will be able to accelerate our presence globally." Vermeer Corporation announces family succession plans As part of its family succession planning process, Vermeer Corporation announced that third-generation family member Jason Andringa will serve as the company's next president & chief executive officer (CEO), effective Nov. 1, 2015. On Nov. 1, 2014, Jason will assume the role of president & chief operating officer (COO) for one year, when he will transition to the role of president & CEO of Vermeer Corporation. He currently serves as president of Forage and Environmental Solutions. "Gary Vermeer, my grandfather and Vermeer founder, was very influential for me personally and professionally," said Jason Andringa. "Since a young age, I had a passion to follow in his footsteps. In the mid-'90s, I traveled on a business trip overseas with my mother, Mary, and saw firsthand the global demand for Vermeer equipment and the impact it was making on local communities across the world. That trip solidified my path to Vermeer. I am honored to have the opportunity to lead Vermeer as a family- owned and operated, global company into a prosperous future." Mary Andringa, current president & CEO, will assume the role of CEO & chair of the board Nov. 1, 2014. Mary will transition exclusively to chair of the board Nov. 1, 2015. "I look forward to working closely with Jason this coming year to prepare him for the transition to CEO in November 2015," said second-generation family member Mary Andringa. "As an entire family, we are proud to announce the third-generation leadership who we know with confidence can propel us to new heights." Bob Vermeer, current chairman of the board, will assume the role of chair emeritus. The honorary role for individuals who served as Vermeer CEO or chair of the board will be effective Nov. 1, 2014. "The Vermeer family and board of directors have worked diligently for more than two decades to establish a robust and extensive family employment policy and succession planning process," said Bob Vermeer, second-generation family member. "We are confident that Jason's education and experience have prepared him exceptionally to lead the company." Briggs & Stratton Corporation to acquire Allmand Bros., Inc. Steve McCarter has assumed leadership of Ewing's water management efforts, providing guidance, strategy and support for Ewing's nationwide network of branch locations. McCarter will leverage his experience as a landscape architect and product sales manager roles in irrigation manufacturing to support Ewing's mission to help contractors and communities conserve water through the use of water-efficient technologies and best management practices. His primary responsibilities will focus on sales development through marketing and promotions, vendor category management, product sales support, and technical training and education. Ewing gains new leadership in water management