Doosan Bobcat Inc., a global leader in the compact equipment industry, today announced plans to 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 Dec. 31, 2019, subject to customary closing conditions and approvals.

"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 as we expand the reach of Doosan Bobcat to more customers and markets."

Under the agreement, Doosan Bobcat will acquire the Johnson Creek, Wisc., 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.

"We see tremendous opportunity in these brands and the grounds care industry," said Mike Ballweber, president of Doosan Bobcat North America. "We look forward to welcoming these employees to our North America team and are excited about what we will be able to accomplish together."

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.

The acquisition follows two major announcements in November. Doosan Bobcat announced a $26 million-dollar modernization and expansion of its Litchfield, Minn., production facility and the opening of its Global Collaboration Center in downtown Minneapolis. These investments are part of Doosan Bobcat's long-term, strategic growth initiatives as a global leader in the compact equipment industry, in addition to demonstrating its long-term commitment to employees and communities in which it operates.

For more information, visit doosanbobcat.com.

For more information about Schiller Grounds Care Inc., visit schillergc.com.

Today's top stories

Florida's Sarasota Bradenton International Airport Sees $105M Terminal Expansion

Louisville Pump Station Receives $230M Update

Rokbak Haul Track Telematics Boost Uptime With Proactive Maintenance

SISO Air, InTerra Form Strategic Reseller Agreement

Hitachi Construction Machinery Wins Silver in 2024 Anthem Award

Balfour Beatty's Carolinas Operations Selected for Over $36M in Special Project Works

Caterpillar to Spotlight 'Next 100 Years' at CES 2025

Liebherr to Exhibit at World of Concrete 2025