Manitowoc agrees to acquire Aspen Equipment for ~$51M; expands Midwest direct-to-customer footprint

MANITOWOC CO INC

Purchase price approximately $51 million; transaction expected to close in September 2021 subject to customary conditions.
Expands direct-to-customer footprint in Iowa, Nebraska, and Minnesota with sales, parts, service, and rentals.
Aspen's specialized crane and truck upfitting capabilities complement Manitowoc's National Crane boom truck product offerings.
Acquisition expected to be accretive to adjusted EBITDA in year one; complements pending H&E Equipment crane business acquisition.

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