DLA Piper represented Stellex Capital Management, a middle-market private equity firm with offices, in the sale of Morbank LLC.
Alamo Group Inc. executed the acquisition of 100% of the outstanding capital shares of Morbank LLC, a leading manufacturer of high-performance equipment and aftermarket parts for forestry, tree maintenance, biomass, land management and recycling markets.
Morbark was founded in 1957 and is based in Winn, Michigan with subsidiary operations in Wooster, Ohio and Roxton Falls, Quebec. Morbark’s family of companies manufacture highly engineered, mobile equipment and aftermarket parts used for clearing, grinding/chipping and converting trees, wood and related organic waste in maintenance and recycling applications.
The acquisition is expected to close in the fourth quarter, upon which Morbark will become part of Alamo’s Industrial Division.
In preparation for this closing, Alamo is working with its banking group to amend and expand its current credit facilities to accommodate this acquisition and meet the ongoing needs of the combined entities.
Founded in 1969, Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications.
The DLA Piper team was led by partner Gerry Williams (Picture) and included partners Frank Mugabi, Paolo Morante, Darius Gambino and Julia Kovacs; of counsel Catherine Campbell; attorney Angela Vadala; and associates Forrest Neal, Witold Jurewicz and Priya Narahari.
Involved fees earner: Catherine Campbell – DLA Piper; Darius Gambino – DLA Piper; Witold Jurewicz – DLA Piper; Julia Kovacs – DLA Piper; Paolo Morante – DLA Piper; Frank Mugabi – DLA Piper; Priya Narahari – DLA Piper; Forrest Neal – DLA Piper; Angela Vadala – DLA Piper; Gerry Williams – DLA Piper;
Law Firms: DLA Piper;
Clients: Stellex Capital Management;