Douglas Dynamics, Inc., a provider in the design, manufacture and sale of snow and ice control equipment for light trucks, announced that it has signed a definitive agreement to acquire TrynEx, Inc., a truck-mounted salt and sand spreader equipment under the SnowEx brand name. TrynEx also provides turf application and industrial attachment products under the TurfEx and SweepEx brand names.
"The announcement is incredibly positive for both Douglas Dynamics and TrynEx and strengthens our position as a market leader in both snow and ice control solutions," said James L. Janik, president and CEO of Douglas Dynamics, Inc. "This transaction represents an opportunity for Douglas Dynamics to further enhance our product portfolio and expand the breadth and depth of our capabilities in snow and ice control, while also exploring new growth channels across market adjacencies and expanding our reach to new geographies."
"TrynEx is pleased to be joining the Douglas Dynamics family and we believe this is an exciting opportunity for our company to expand its future growth objectives as part of a larger organization," said Chuck Truan, president of TrynEx, Inc. "TrynEx and Douglas Dynamics' businesses have similar core values and both companies serve a similar marketplace through different channels, which provides us with opportunities to carve out new markets, leverage shared expertise and to introduce both companies' products to new audiences."
The current management of Douglas Dynamics will remain in place and continue to lead the combined Company. The TrynEx business will continue to operate as it does presently; as a division of Douglas Dynamics, marketing its SnowEx, TurfEx and SweepEx brands under the leadership of its current management team.
