Morbark LLC announced this morning the acquisition of Rayco Manufacturing. Morbark hopes the the purchase will help the company broaden the range of it’s tree care equipment, aftermarket parts, and services offered to their customers.
Here are some of the transaction highlights according to Morbark.com:
- The transaction is a positive, strategic fit for both companies. Rayco brings a lineup of innovative equipment into the Morbark family across multiple product categories. In particular, Rayco stump cutters, aerial trimmers, forestry mulchers and crawler trucks will enhance and complement the existing Morbark family of products.
- Rayco founder, John Bowling, will continue his work with the team to develop new products and help improve the company’s existing product lines. He will continue to have an economic interest in the combined business and will be a member of Morbark’s Board of Directors.
- Morbark will operate Rayco as a new division maintaining its brand identity. Rayco’s experienced management team will continue to manage their operations. Teams from each company will work together to determine how to be more efficient and leverage each other’s strengths.
Morbark CEO Dave Herr concluding saying this, “Rayco has a well-deserved reputation for providing customers with the equipment and service they demand and the value they deserve. That product innovation and dedication will continue without interruption. We are excited by what we can bring to Rayco in the way of our experiences, our dealer network and products to complement current Rayco equipment owners.”