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Longtime Compact Equipment Maker Goes Public

Wed May 17, 2017 - National Edition
Construction Equipment Guide

ASV Holdings Inc. has gone public.

A designer and manufacturer of compact construction equipment, ASV announced that it has recently completed an underwritten Initial Public Offering (IPO) and is now a publicly held company with shares trading on the NASDAQ under the symbol “ASV.”

ASV, formerly operating as a joint venture of Manitex International and Terex Corporation had 2016 net sales of $103.8 million and more than 130 independent dealer locations throughout North America.

The company said that the change in corporate structure to a public company offers benefits of greater access to capital, higher public visibility, and an added level of sophistication through new institutional investors and regulated board oversight.

CEO Andrew Rooke will continue to lead ASV and has been pivotal in the transformation of the company through the IPO. Also remaining with ASV are:

• Missi How, CFO, who has held the company's most senior financial positions since joining the organization in 1999;

• Jim DiBiagio, COO, who since joining the organization in 2013 leads the company's operations, commercial and technology areas of the business.

Rooke, How and DiBiagio will continue to be assisted by the leadership team consisting of Bill Wake, director of engineering and product development, and Steve Gatti, national sales manager for North America, who manages the dealer network.

ASV Inc. manufactures and sells a line of compact track and skid steer loaders. Equipment designed and built by ASV uses unique rubber-track and undercarriage technology that provides excellent traction on soft, wet, slippery, rough or hilly terrain. The company's founders in 1983 were the forerunners of the early snowmobile industry and also founded Polaris Industries and Arctic Cat.

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