TEREX CORP (TEX): M&A transaction — Terex completes $2.0B acquisition of Dover's Environmental Solutions Group

TEREX CORP

Purchase price $2.0B cash; net $1.725B after ~$275M expected tax benefits.
Deal valued at ~8.4x 2024E EBITDA including run-rate synergies; expected double-digit % adjusted EPS accretive in 2025.
Identified ~$25M of cost and revenue synergies targeted by end of 2026; adds 140 bps to EBITDA margin.
Funded with $750M 6.250% senior notes due 2032, new $1.25B term loan, and cash; revolver upsized to $800M.
ESG holds #1 North American position in refuse collection vehicles and waste compaction; Terex North America revenue share rises to 67%.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

TEREX CORP completed an acquisition involving Dover for $2.0 billion in cash (closed 2024-10-08).

Action: acquisition
Counterparty: Dover
Consideration: $2.0 billion in cash
Closing: 2024-10-08

Exact text from the filing

the Company completed its acquisition of ESG from Dover for a purchase price of $2.0 billion in cash, subject to customary closing adjustments to be finalized after the Closing Date.

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TEREX CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-107143

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