An International Fusion on Wheels: Shyft Group and Aebi Schmidt Join Forces
In a move that merges the precision of Swiss engineering with American manufacturing expertise, Shyft Group and Aebi Schmidt are set to unite in an all-stock deal that sent Shyft’s shares soaring 13% on Monday. US-based Shyft, known for crafting specialty work trucks and recreational vehicles, will combine its prowess in manufacturing and assembly with Aebi Schmidt’s specialty equipment and custom attachments. Together, the companies aim to carve out a larger slice of the specialty vehicle market while blending their expertise to create an entity with projected 2024 revenues of $1.95 billion.
Under the agreement, Shyft shareholders will hold 48% of the combined company, with each Shyft share converting into 1.04 shares of the new entity. Swiss-based Aebi Schmidt shareholders will control the remaining stake, marking a shift in leadership and geography. Barend Fruithof, the Swiss firm’s current chief, will take the helm, while Shyft CEO John Dunn will stay on to help steer the transition. Notably, the combined company will trade on the NASDAQ but make Switzerland its new home base—perhaps a nod to Aebi Schmidt’s global ambitions.
For investors and market watchers, this transatlantic partnership signals an interesting marriage of two complementary giants. Shyft’s market value, hovering around $439 million, belies its ability to attract major strategic moves, with financial heavyweights like Deutsche Bank shepherding the deal. As the specialty vehicle landscape evolves, this merger hints at bigger aspirations: a streamlined force with an international reach that stands ready to roll into 2025 and beyond.
(Source: PR Newswire | RV Business)
