Terex Signs Agreement to Purchase Environmental Solutions Group (ESG) in $2 Billion Cash Deal

Norwalk, Conn.-based Terex Corporation has agreed to purchase Environmental Solutions Group (ESG) from Dover Corporation.The $2 billion all-cash transaction includes solid waste industry brands Heil, Marathon, Curotto-Can, and Bayne Thinline, as well as digital solutions such as 3rd Eye and Soft-Pak. The acquisition strengthens Terex's portfolio and customer base.

Waste360 Staff, Staff

July 22, 2024

1 Min Read

Norwalk, Conn.-based Terex Corporation has agreed to purchase Environmental Solutions Group (ESG) from Dover Corporation.

The $2 billion all-cash transaction includes solid waste industry brands Heil, Marathon, Curotto-Can, and Bayne Thinline, as well as digital solutions such as 3rd Eye and Soft-Pak. The acquisition strengthens Terex's portfolio and customer base.

Simon Meester, Terex president and CEO, commented on the development, saying: "This acquisition announcement of ESG marks an incredibly exciting milestone in our multi-year transformation and aligns with our goal of strengthening our portfolio and leveraging our operating system to drive sustainable, accelerated long-term growth.
The company projects an estimated  $25 million of identified synergies by the end of 2026, "driven by procurement, supply chain efficiencies and commercial initiatives."
The acquisition increases Terex's exposure in the North American market 65 percent and expands its global market opportunity to $40 billion.
"ESG will add a non-cyclical, financially accretive, and market-leading business to Terex's portfolio with tangible synergies in the fast-growing waste and recycling end market," Meester added. "In addition, ESG is led by a world-class management team and has a strong track record of operational excellence. We look forward to welcoming the ESG team to Terex and driving long-term, sustainable value for all our stakeholders." 
ESG will fall under a newly-created Environmental Solutions service unit.
Source: Terex

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