Clark Hill Strasburger advises Alamo Group Inc. in the recent $352M purchase of Morbark, LLC and expansion of Alamo Group’s credit facility to $650M
San Antonio, TX - Clark Hill Strasburger represented Seguin-based Alamo Group Inc. (NYSE: ALG) in the recent purchase of Morbark, LLC, a leading manufacturer of equipment and aftermarket parts for forestry, tree maintenance, land management and recycling markets. The deal which closed on October 24, 2019, included the purchase of 100% of the outstanding equity interests of Morbark, LLC for $352M. In tandem with the Morbark acquisition, Alamo Group expanded its existing credit facility to $650M with Clark Hill Strasburger providing counsel to Alamo Group, as the borrower.
David Oppenheimer, who led both the M&A and finance transaction teams, said “I want to congratulate Alamo Group on the acquisition of Morbark—it’s biggest transaction to date, and to thank all of the attorneys at our firm who helped out on the deal.”
Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications, and including the units of Morbark, Alamo has approximately 4,345 employees and operates 32 plants in North America, Europe, Australia and Brazil as of October 24, 2019.
The Clark Hill Strasburger deal teams based out of the San Antonio, Texas office and led by partner J. David Oppenheimer (lead counsel M&A and finance), include Brad Oxford (member employee benefits), Patrick Larkin (member environmental), Adam Boland (senior counsel employment), Timothy Koltun (of counsel real estate) and Joe Struble (associate M&A/corporate) for the acquisition, and Troy Cady (senior counsel banking and financial services) and Lauren Laughlin (associate corporate) on the financing.