IES acquires Siac do Brasil
First publishedon www.AggBusiness.com
International Equipment Solutions (IES) has acquired, through an indirect, wholly-owned subsidiary, Siac do Brasil from SIAC and its affiliates.
IES and SIAC also announced an alliance agreement whereby the parties would cooperate in the future.
Founded in 1966 and headquartered in Bergamo, Italy, SIAC is one of the largest global manufacturers of cab enclosures and specialises in the design and manufacture of driver units, complete cabs and components for earthmoving and agricultural machinery and equipment. Siac do Brasil is the leading manufacturer of cab enclosures in Brazil.
IES, formed in 2011, is a global engineered equipment platform serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining, and energy markets, and its customers include major OEMs, national rental fleet companies and hundreds of independent and OEM-aligned dealers.
IES chief executive officer, Steve Andrews, said: “The acquisition of Siac do Brasil is a critical strategic step in the growth and globalisation of IES. We are very impressed with the company’s rapid growth trajectory, customer base, quality and technical capabilities.
“The acquisition not only expands many of our current North American OEM supply partnerships into the Brazilian market, but further broadens our customer base as well.
“Additionally, the acquisition introduces IES as an important supplier in the rapidly growing Brazilian locomotive market.”