Miller Industries, Inc. acquired Southern Hydraulic Cylinder, Inc. for $17.5 million.
May 30, 2023
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Miller Industries, Inc. (NYSE:MLR) acquired Southern Hydraulic Cylinder, Inc. for $17.5 million on May 31, 2023. The purchase price is an all-cash transaction for an aggregate purchase price of approximately $17.5 million, subject to certain pre- and post-closing adjustments for cash and net working capital.
Miller Industries, Inc. (NYSE:MLR) completed the acquisition of Southern Hydraulic Cylinder, Inc. on May 31, 2023. Kilpatrick Townsend & Stockton LLP acted as legal advisor to Miller Industries, Inc and Miller & Martin, PLLC acted as legal advisor to Southern Hydraulic Cylinder, Inc.
Miller Industries, Inc. is a manufacturer of towing and recovery equipment. The Company designs and manufactures bodies of car carriers and wreckers, which are installed on chassis manufactured by third parties, and sold to its customers. Its products are marketed and sold through a network of distributors that serve all 50 states, Canada, Mexico, and other foreign markets, and through prime contractors to governmental entities. In addition to selling its products, its independent distributors provide end-users with parts and service. Its product line includes car carriers, wreckers, and transport trailers. Car carriers are specialized flat-bed vehicles with hydraulic tilt mechanisms that enable a towing operator to drive or winch a vehicle onto the bed for transport. Its multi-vehicle transport trailers are specialized auto transport trailers with upper and lower decks and hydraulic ramps for loading vehicles. Its brands include Century, Vulcan, Chevron, Holmes, and Challenger.
MILLER INDUSTRIES, INC. 