Cameron Holdings Corporation (“Cameron”) announced today that it has closed the sale of Henderson Enterprises Group, Inc. (“Henderson”) to Douglas Dynamics, Inc. (NYSE: PLOW) (“Douglas”) for approximately $95 million in cash.
Headquartered in Manchester, Iowa, Henderson is the leading North American manufacturer of customized, turnkey snow and ice control solutions for heavy-duty trucks focused on state Departments of Transportation (DOT), counties, and municipalities. Henderson includes a 170,000 square foot manufacturing facility where most of its 350+ employees are based. The Company also maintains five truck equipment upfit facilities located in New York, Iowa, Ohio, New Jersey, and Illinois, which provide turnkey assembly and delivery of heavy duty trucks to state DOTs, counties, and municipalities.
Don Metzger, Senior Vice President of Cameron, commented, “We are extremely pleased with this outcome. Since acquiring Henderson in 2009, Cameron and the Henderson management team worked closely to develop and successfully implement several strategic initiatives that helped Henderson to achieve its industry leading position in the heavy-duty truck segment of the snow and ice control market. It was a pleasure working with the Henderson team and we wish them well in the future.”
About Cameron Holdings
Cameron Holdings is a family office investment firm that specializes in the acquisition and operation of middle market manufacturing and industrial service companies. Since its beginning in 1978, Cameron has developed a long and successful track record, completing over 40 transactions with an aggregate transaction value in excess of $1.0 billion. Additional information about Cameron is available at www.cameron-holdings.com.
About Henderson
Henderson is the leading North American manufacturer of customized, turnkey snow and ice control equipment solutions for heavy duty trucks focused on State Departments of Transportations (DOTs), counties, and municipalities. Henderson's expansive product portfolio includes ice-control equipment, snow plows, dump bodies, muni-bodies, and replacement parts. The Company is based in Manchester, IA. Additional information regarding Henderson is available at www.hendersonproducts.com.
