Morbark LLC announced it has completed the acquisition of Rayco Manufacturing Inc. This transaction represents the first addition since affiliates of the private equity firm Stellex Capital Management LP acquired Morbark in 2016. The purchase of Rayco represents a significant move toward the company’s strategic focus on broadening the range of tree care and industrial equipment, aftermarket parts, and service offered to their customers.
John Bowling, CEO of Rayco, stated, “Our family is very proud of the legacy we have established and nurtured over the past 39 years. As a family-run and owned business, we view today’s transaction as an opportunity to continue growing our business while joining an even larger family.”
Deere & Company has completed its acquisition of the Wirtgen Group, the leading manufacturer worldwide of road construction equipment. In June, Deere announced a definitive agreement to purchase the international privately held company.
“The Wirtgen Group will enhance the size, scale, and stature of our construction equipment business and will help Deere continue its global growth,” said Samuel R. Allen, Deere & Company chairman and CEO.
The Wirtgen Group has a global footprint with approximately 8,200 employees and sells products in more than 100 countries through a large network of company-owned and independent dealers. www.JohnDeere.com
Sauli Niinistö, the President of the Republic of Finland, gave Ponsse Plc a special recognition, awarding the company the annual Internationalization Award. The Internationalization Award is a recognition granted to Finnish companies that have gained international success and to the communities behind them.
The special recognition was based on Ponsse’s long-term profitable and sustainable international growth and modernization. According to the jury, the aim was to give this recognition to a company that has had a significant impact on the success of an entire industry and other companies operating in the same field and, through its activities, has had a significant long-term impact on society.
On the Cover
Photo taken by Andrea Watts of the Buck’s Logging operation.
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Firebreak Column — Mopping Up
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