Terex and REV Group to Enter Into Strategic Merger Agreement

Fried Frank is advising Terex Corporation on its agreement to merge with REV Group in a stock and cash transaction to form a leading specialty equipment manufacturer, which was announced by the companies today. The transaction is expected to close in 2026 and will create a diversified leader in emergency, waste, utilities, environmental and materials processing equipment with attractive end markets characterized by low cyclicality, resilient demand and long-term growth profiles. The combined company is expected to have approximately $7.8 billion in net sales as of year-end 2025. In addition to the merger, Terex also announced that it will initiate a process to exit its Aerials segment, including the assessment of a potential sale or spin-off.

Terex is a global industrial equipment manufacturer of materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs), and equipment for the electric utility industry. Read the companies' press release for more information about the transaction.

Fried Frank continues to counsel Terex on its various complex transactions. The firm previously advised the industrial equipment manufacturer on its $2 billion acquisition of the Environmental Solutions Group ("ESG") business of Dover Corporation as well as a $2 billion financing for new term loans and a $750 million private offering of senior notes.

The Fried Frank team was led by corporate partners Philip Richter and Colum J. Weiden.

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