Aebi Schmidt Group, a specialty vehicles leader, announced highlights of its recent combination with The Shyft Group and its Spartan Chassis subsidiary, along with its upcoming second quarter earnings conference call.
Trading Highlights:
- Aebi Schmidt announced the successful completion of the previously announced merger with The Shyft Group on July 1.
- The Shyft Group’s last trading day was Monday, June 30, and closed with a share price of $12.54.
- The share exchange ratio under the merger was approximately 1.04, with an implied share price for Aebi Schmidt of $12.06.
- Aebi Schmidt’s first day of regular way trading was Wednesday, July 2, and closed with a share price of $11.18.
- Aebi Schmidt closed trading on Friday, July 11 at $11.07 following the first several days of regular way trading under the ticker symbol “AEBI”.
Financial Reporting Highlights:
Aebi Schmidt’s CEO Barend Fruithof commented, “We are excited by the exceptional prospects for the future combined Company by delivering growth by driving commercial excellence. The team is well on track to deliver the targeted synergies of $25 to $30 million and strong operating results despite the dynamic operating environment, including the impact of tariffs. The leadership team is laser focused on executing to deliver on its commitments.”
The company will report financial results under two segments with the following leadership:
- North America led by Steffen Schewerda
- Europe and Rest of World led by Henning Schröder
The independent, strong production footprints in both North America and Europe, servicing their respective markets, provide Aebi Schmidt with resiliency against potential trade barriers, the company said.
On an unaudited, proforma basis, the company’s net debt as of June 30 was $503 million; Aebi Schmidt expects to maintain a prudent and flexible capital structure with deleveraging targeted over the next 12 to 18 months.
Fully diluted share count of 78.2 million with strong anchor shareholders.
The combined company has a strong balance sheet with an equity of well over $700 million, representing an equity ratio of approximately 40% as of the closing of the merger.
The company will host its second quarter 2025 earnings conference call on Thursday, Aug. 14 at 8:30 a.m. Eastern Time.
Participants can access the webcast and conference call at https://www.aebi-schmidt.com/investors. Barend Fruithof, group CEO, and Marco Portmann, group chief ginancial officer, will lead the call.
