Doosan Bobcat to acquire BOB-CAT mowers and the Steiner and Ryan grounds care brands
Doosan Bobcat Inc. will acquire the assets of the BOB-CAT Mowers and the Steiner and Ryan brands of ground care equipment from Schiller Grounds Care, Inc.
The transaction is expected to close by December 31, 2019, subject to customary closing conditions and approvals.
Under the agreement, Doosan Bobcat will acquire the Johnson Creek, Wisconsin, manufacturing facility, and the BOB-CAT Mowers, Steiner and Ryan brands of ground care equipment. The Schiller Grounds Care, Inc. employees working at the Johnson Creek location, as well as the distributor and dealer direct field sales and technical support teams, will join the Doosan Bobcat team once the acquisition is finalized.
"As a pillar of our growth strategy, this acquisition will complement our existing business and expand our footprint to additional, growing industries," said Scott Park, president and chief executive officer of Doosan Bobcat Inc. "These successful brands bring market leadership and closely align with our vision, which will further diversify our business."
The purchase price of the assets of the BOB-CAT Mowers, Steiner and Ryan brands of ground care equipment from Schiller Grounds Care, Inc. was not disclosed. BDO Capital Advisers LLC served as the exclusive financial advisor to Schiller Grounds Care Inc.