Terex has announced a new acquisition. Image: Alexey Rezvykh/stock.adobe.com
Terex has confirmed the latest details around its acquisition of Environmental Solutions Group (ESG) from Dover Corporation in a $2-billion-dollar deal.
The agreement establishes Terex within the waste/recycling market in North American. ESG made its name refuse collection vehicles, waste compaction machinery, balers and aftermarket equipment and digital solutions.
“This acquisition announcement of ESG marks an incredibly exciting milestone in our multi-year transformation and aligns with our goal of strengthening our portfolio and leveraging our operating system to drive sustainable, accelerated long-term growth,” Terex president and chief executive officer Simon Meester said.
“ESG will add a non-cyclical, financially accretive, and market-leading business to Terex’s portfolio with tangible synergies in the fast-growing waste and recycling end market.
“In addition, ESG is led by a world-class management team and has a strong track record of operational excellence.”
The deal is subject to close in the second half of 2024 subject to approvals and closing conditions. After the deal closes, Terex will create the new Environmental Solutions segment that includes ESG as well as Terex’s existing utilities business.
It marks a new chapter for Terex which also recently launched a new brand, MAGNA, for the quarrying and aggregates sector earlier this year.
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