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Terex completes acquisition of Environmental Solutions Group
17 October 2024
Terex Corporation has completed its acquisition of Environmental Solutions Group (ESG) from Dover Corporation.
(PHOTO: Terex)
The deal, valued at US$2.0 billion, or US$1.725 billion when adjusted for tax benefits, is expected to strengthen Terex’s position in the waste and recycling market.
The acquisition will see Terex deriving 67% of its total revenue from North America, an increase from 61% over the past 12 months, as of Q2 2024.
According to Terex, the addition of ESG, which manufactures refuse collection vehicles, waste compaction equipment, and provides digital solutions, will complement its existing businesses.
Terex CEO Simon Meester said: “ESG is a non-cyclical, financially accretive, market-leading business that will complement and strengthen Terex’s portfolio with synergies in the fast-growing waste and recycling end market.”
Patrick Carroll, who has led ESG for the past 14 years, will continue in his role as President of the division.
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