SEGUIN, Texas, June 26, 2017 /PRNewswire/ -- Alamo Group Inc. (NYSE: ALG) announced that it has completed the previously announced acquisition of Old Dominion Brush Company, Inc. located in Richmond, Virginia. Old Dominion manufactures and sells replacement brooms for street sweepers and leaf vacuum equipment primarily sold to municipalities, contractors and commercial landscape markets. They reported unaudited sales of approximately $27.7 million for the year ending December 31, 2016.
Ron Robinson, Alamo Group's President and Chief Executive Officer commented, "We are pleased to have Old Dominion as part of the Alamo Group. This is a well-known and well-respected brand whose products are complementary to our existing range of infrastructure maintenance equipment and parts. And, we are also glad that Tim and Duke Brizzolara will continue to run the company and bring their considerable expertise and knowledge to aid in Old Dominion's ongoing development. The company will become part of Alamo's Industrial Division.
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements and related after-market parts and services. The Company, founded in 1969, has approximately 2,970 employees and operates 24 plants in North America, Europe, Australia and Brazil as of March 31, 2017. The corporate offices of Alamo Group Inc. are located in Seguin, Texas and the headquarters for the Company's European operations are located in Salford Priors, England.
Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from forecasted results. Among those factors which could cause actual results to differ materially are the following: market demand, competition, weather, seasonality, currency-related issues, and other risk factors listed from time to time in the Company's SEC reports. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.
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SOURCE Alamo Group Inc.