Terex Corporation announced the successful completion of its merger with REV Group to form a premier specialty equipment manufacturer with a diversified portfolio and strong growth prospects.
The planned merger was first announced by RV PRO on Oct. 30, 2025.
“The combination with REV Group is a defining moment in Terex’s transformation. It creates a large-scale leader with a wide range of specialty equipment and a highly synergistic portfolio at the same time. The merger positions the company quite uniquely to accelerate profitable growth with a much more resilient top line,” commented Simon Meester, Terex president and CEO. “We look forward to leveraging the best of both organizations and creating real value for our customers and shareholders.”
Combining the complementary portfolios will unlock significant value-creating synergies totalling $75 million of run-rate value in 2028 with approximately 50% to be achieved over the next 12 months, the release continued. Both Terex and REV Group have demonstrated their ability to successfully execute large integrations and deliver expected synergy value. In addition, the resulting combined company features lower capital intensity with an attractive leverage profile and strong free cash flow, the companies said.
In connection with the completion of the merger, REV stock ceased trading and is no longer listed on the New York Stock Exchange. The combined company will trade on the New York Stock Exchange as Terex Corporation.
Strategic Rationale & Transaction Benefits
- Complementary Portfolio of Specialty Equipment Businesses. As a combined company, Terex and REV Group will offer a diversified portfolio of emergency, waste, utilities, environmental and material processing equipment with attractive end markets characterized by low cyclicality, resilient demand and long-term growth.
- Financial Strength and Flexibility. Together, Terex and REV Group will operate from a position of enhanced financial strength with an attractive leverage position, low capital intensity and significant free cash flow to fuel growth. This strong financial foundation will support continued investment in growth while maintaining discipline and flexibility.
- Enhanced Scale and Growth Profile. The transaction will enhance the combined company’s overall growth profile, creating a more diversified platform with multiple avenues for expansion. By combining complementary capabilities, the business is positioned for stronger, more sustainable growth over the long term.
- Compelling Value Creation Through Synergies. The transaction will unlock significant value-creating synergies that enhance competitiveness and reduce operating costs with $75 million of run-rate value in 2028 and approximately 50% achieved twelve months after closing.
