ASV Holdings, Inc. Announces New Ownership Structure via Initial Public Offering (IPO)
May 12 2017 - 4:40PM
Business Wire
Newly Re-Activated Dealer Network Expected
to Drive Company Forward with Best-in-Class Compact Track Loaders
and Skid Steers
ASV Holdings, Inc. (NASDAQ:ASV), a designer and
manufacturer of compact construction equipment, today announced
that it has recently completed an underwritten Initial Public
Offering (IPO) and is now a publicly-held company with shares
trading on the NASDAQ under the symbol “ASV”.
ASV, formerly operating as a joint venture of Manitex
International and Terex Corporation had 2016 net sales of $103.8
million and over 130 independent dealer locations throughout North
America. The company is pleased to announce that the change in
corporate structure to a public company offers benefits of greater
access to capital, higher public visibility, and an added level of
sophistication through new institutional investors and regulated
board oversight.
The company remains led by CEO, Andrew Rooke, who is a veteran
industrial equipment executive that has been pivotal in the
transformation of the company through the IPO, Missi How, CFO, who
has held the company’s most senior financial positions since
joining the organization in 1999, and Jim DiBiagio, COO, who since
joining the organization in 2013 leads the company’s operations,
commercial and technology areas of the business. Andrew, Missi and
Jim are assisted by a solid leadership team including Bill Wake,
Director of Engineering and Product Development, and Steve Gatti,
National Sales Manager for North America, who manages the dealer
network.
About ASV Holdings, Inc.
ASV, Inc. manufactures and sells a line of high quality compact
track and skid steer loaders. Equipment designed and built by ASV
uses unique and patented rubber track and undercarriage technology
that provides exceptional traction on soft, wet, slippery, rough or
hilly terrain. ASV's history dates back to 1983. Its founders,
forerunners of the early snowmobile industry were also founders of
Polaris Industries and then Arctic Cat. For more information about
ASV and its products please visit http://asvllc.com/about-us/
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version on businesswire.com: http://www.businesswire.com/news/home/20170512005726/en/
ASV Holdings, Inc.Andrew Rooke, 800-346-5954Chief
Executive OfficerAndrew.rooke@asvllc.comorDarrow Associates,
Inc.Peter Seltzberg, 516-419-9915Managing DirectorInvestor
Relationspseltzberg@darrowir.com
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