The Shyft Group to Merge with Aebi Schmidt Group to Create A Specialty Vehicles Leader

The Shyft Group, Inc. Aebi Schmidt Group Michigan Switzerland

Significant Scale in Attractive North American Market with Strong European PresenceHighly Complementary Portfolios Create Opportunities to Better Serve Customers and Drive Competitive Growth Expected to Generate 2024E Pro Forma1 Revenue of ~$1.95 Billion2 and Adjusted EBITDA3 of ~$200 Million+ Including SynergiesDrives Significant Shareholder Value with $25 – $30 Million in Expected Synergies4 by Year 2, EPS Accretion in Year 1 and ROIC Greater than Cost of Capital in Year 3 Post Close   Barend Fruithof, Current CEO of Aebi Schmidt, Named President and CEO Elect; James Sharman, Current Chairman of Shyft Board, Named Chairman ElectCombined Company will Trade on NASDAQView original content:https://www.prnewswire.co.uk/news-releases/the-shyft-group-to-merge-with-aebi-schmidt-group-to-create-a-specialty-vehicles-leader-302332444.html