MONROE, WI — Aebi Schmidt announces an agreement to acquire Wisconsin-based Monroe Truck Equipment from Industrial Opportunity Partners. Monroe is a truck and trailer equipment platform with around $270 million in annual revenue. The addition of Monroe will significantly strengthen Aebi Schmidt’s market position in the U.S. and globally, boosting the group’s prospects for future growth.

Founded in 1958, Monroe Truck Equipment is a manufacturer, upfitter, and distributor of truck and trailer equipment for the municipal and commercial markets, including a snow and ice business. Building on its 60 years of industry experience, Monroe offers custom engineering, product customization, and support for truck equipment.

“With a combined revenue base of around $850 million, the acquisition of Monroe creates a completely new starting position for the further growth of Aebi Schmidt," said Aebi Schmidt CEO Barend Fruithof. "Adding this strong U.S. player to the group, we are at the same time significantly improving the geographical diversification of our earnings.”

"Monroe has an extremely strong brand and outstanding professionals, and we are very much looking forward to welcoming the Monroe team to the Aebi Schmidt family. This acquisition opens up exciting new business areas for us and will also strengthen our important winter business in particular," said Steffen Schewerda, CEO North America of Aebi Schmidt.

In addition to complementary business activities, Aebi Schmidt will benefit from Monroe’s upfitting centers and nationwide distribution network, which provide access to services, solutions, and cross-selling opportunities with new and existing customers in the U.S. Monroe will in turn be able to benefit from Aebi Schmidt’s global capabilities and integrate resources such as its European winter road maintenance or sweeping technology into its operations.

“At Monroe, we see ourselves as a team of problem solvers dedicated to help our industry advance," said Tom Ninneman, CEO of Monroe Truck Equipment. "That's why Aebi Schmidt is the best owner to take Monroe even further. Not only will there be a wealth of new business opportunities, but we also share common values and put our customers first. I’m convinced Monroe will be very well positioned to continue its track record of strong growth and serving customers.”

Upon completion of the transaction, Aebi Schmidt will take over all of Monroe’s more than 900 employees, resulting in a total of around 3,000 staff for the group. Monroe will continue to be run by existing management.