Terex completes merger with REV Group

Terex Corporation has announced the completion of its merger with REV Group.

“The combination with REV Group is a defining moment in Terex’s transformation. It creates a large-scale leader with a wide range of specialty equipment and a highly synergistic portfolio at the same time,” said Simon Meester, Terex President & Chief Executive Officer. 

A Genie GS-1932 scissor lift in the Texas First Rentals fleet.

Terex unveiled plans to merge with US-based REV Group, which manufacturers speciality vehicles including fire trucks, ambulances, and recreational vehicles, at the end of October last year, and exit Genie, its aerials business, leading to widespread speculation over potential buyers.

Meester added that the merger positioned the company in a unique position to accelerate growth with a much more resilient top line,”We look forward to leveraging the best of both organizations and creating real value for our customers and shareholders.”

Following the completion of the merger, REV stock ceased trading and is no longer listed on the New York Stock Exchange. The combined company will trade on the New York Stock Exchange as Terex Corporation.

According to Terex, combining the portfolios, which the company says are highly complementary, will unlock significant growth potential leading to $75 million of run-rate value during 2028, with approximately 50% of that to be achieved over the next twelve months.

“Both Terex and REV Group have demonstrated their ability to successfully execute large integrations and deliver expected synergy value. In addition, the resulting combined company features lower capital intensity with an attractive leverage profile and strong free cash flow,” said Terex.