Miller Industries, Inc. has completed the acquisition of Omars - S.p.A in an all-cash transaction valued at $20.3 million.
Omars, based in Cuneo, Italy, is a renowned manufacturer of towing and recovery vehicles with over 45 years of experience.
The acquisition is expected to enhance Miller Industries' presence in the European market and provide increased manufacturing capacity
Acquisition Details
All-cash transaction for approximately €17.5 million, expanding Miller Industries' European market footprint.
Revenue Boost
Omars recorded an annual revenue of $27 million in 2024, contributing to Miller Industries' growth.
Future Prospects
Expected accretive transaction in year one, with potential for market share growth in Europe.
- The acquisition of Omars is a strategic move to broaden Miller Industries' product portfolio and increase its manufacturing capabilities.
- This acquisition positions Miller Industries to meet rising customer demands and improve its global market competitiveness.
The acquisition of Omars represents a significant step in Miller Industries' global expansion strategy, aligning with its commitment to shareholders and enhancing its position in the towing and recovery equipment industry.