CARSON, Calif. — Mulitquip last month announced the purchase of Stow Manufacturing, a light-construction equipment manufacturer, from Bomag's Compaction America division. The transaction was expected to close Nov. 30. Financial terms of the deal were not disclosed.
Stow, based in Conklin, N.Y., manufactures and markets a full line of mixers, concrete and masonry saws, dewatering pumps, trowels and concrete vibrators worldwide.
The purchase was Multiquip's second major transaction in the second half of 2001. The company acquired Aug. 30, Honey Brook, Pa.-based Sanders Saws, a manufacturer of concrete diamond blades.
“Stow is a well-known name in this industry,” Multiquip president Roger Euliss told RER. “Its products lend themselves to rental as well as STAFDA-type organizations, and they will give us some additional channels of distribution to new markets. The acquisition will also help make our manufacturing structure more efficient with the addition of more product in our plants, helping us to hold down and reduce operating costs.” Euliss added that Multiquip's intention is to keep most existing Stow programs and to continue to market Stow products with their existing brand names as a division of Multiquip.
“This acquisition will give us more diversity in our market and customer base,” Euliss said. “And Stow is strong in some international markets which we'll continue to pursue and grow.”
Multiquip plans to keep the Stow sales support staff and will manufacture the Stow products at Multiquip facilities.
GOT NEWS TO REPORT?
Call Michael Roth at 800/543-4116, ext. 253 or Brandey Smith at 913/967-7458.
