October, 2023
SEGUIN, Texas, October 10, 2023 — Alamo Group Inc. (NYSE: ALG), a global leader in the design, manufacture, and distribution of high-quality equipment for infrastructure maintenance, has announced a significant stride in their expansion efforts with the acquisition of Royal Truck & Equipment, Inc. This strategic move promises to fortify Alamo's position in the highway safety equipment market, marking the beginning of an exciting new chapter.
Safety First: A Shared Vision
Royal Truck & Equipment, founded by Mr. Rob Roy in 1986, boasts a legacy of 37 years dedicated to advancing road work zone safety. The company, based in Shoemakersville, Pennsylvania, prides itself on innovative products designed to protect the lives of road workers and commuters. Their robust product portfolio includes truck-mounted highway crash attenuator trucks, cone safety and traffic control trucks, and an array of equipment tailored for highway safety.
This aligns seamlessly with Alamo Group's core values. Safety and quality have been at the heart of Alamo's mission for decades. They have consistently been at the forefront of innovation, delivering products that meet and exceed industry standards. The acquisition of Royal Truck is a testament to Alamo's unwavering commitment to road safety and infrastructure maintenance.
Seizing New Opportunities
With Royal Truck now under its banner, Alamo Group opens the door to a world of opportunities. The acquisition extends their reach into the highway safety equipment market, allowing them to provide a broader spectrum of solutions to meet the evolving needs of infrastructure and safety.
Highway safety equipment is of paramount importance as governments globally increase their spending on infrastructure and road improvements. Alamo Group's entrance into this market is a strategic response to the growing demand for innovative solutions to safeguard road workers and the traveling public.
A Vision for the Future
This acquisition is not just about combining two well-regarded names in the industry. It's about enhancing the impact of both. Rob Roy, the Founder of Royal Truck, expressed his pride in the business his team built over the past four decades. His vision for the company's future aligns closely with Alamo Group's mission of innovation, customer service, and road safety. Together, they plan to fortify Royal Truck's standing in the market and accelerate its growth.
Jeff Leonard, Alamo Group’s President and Chief Executive Officer, believes this acquisition is a step in the right direction. It falls in line with Alamo Group's long-term strategy of expanding into adjacent markets, creating synergies between their existing operations and new platforms. This strategic move presents Alamo Group with the opportunity to bring their expertise to a market that promises to see remarkable growth in the coming years.
The acquisition is not just a business transaction but a testament to Alamo Group's commitment to safety and innovation. It's a powerful statement about their readiness to adapt to new challenges and explore opportunities to improve the world’s infrastructure.
As Alamo Group and Royal Truck unite under the common banner of road safety and innovation, they are all set to make our roads safer, our infrastructure more robust, and our journey ahead smoother.