Jarraff Industries announces the execution of an agreement to sell 100% of its capital stock to PRINOTH, which is a manufacturer of snow groomers, tracked vehicles and vegetation management vehicles and equipment. The agreement was effective October 1.
The transaction is a positive, strategic fit for both companies. Jarraff Industries brings a lineup of highly specialized equipment that will enhance and be a perfect complement to the existing line of PRINOTH products like the Hydraulic Mulcher heads, the RAPTOR line of mulcher carriers and the PANTHER line of crawler carriers.
Heidi Boyum, the president of Jarraff Industries stated, “I am very proud of the legacy we have established and nurtured over the past 42 years. As a family-run and -owned business, I view today’s transaction as an opportunity to ensure that the business, customers, employees, and the community we are in continue growing while joining an even larger family.” Heidi Boyum, will continue to work as a strategic advisor to Jarraff Industries and PRINOTH.
The transaction is a positive, strategic fit for both companies. Jarraff Industries brings a lineup of highly specialized equipment that will enhance and be a perfect complement to the existing line of PRINOTH products like the Hydraulic Mulcher heads, the RAPTOR line of mulcher carriers and the PANTHER line of crawler carriers.
Klaus Tonhäuser, president of the PRINOTH Group, commented, “This acquisition confirms PRINOTH’s commitment to invest in and grow its presence in the specialized off-road equipment business, better positioning it in the high-demand utilities right of way and maintenance segment. Jarraff’s specialized product portfolio and strong presence in these critical market segments will provide our customers access to industry-leading products backed by our brand, distribution, and manufacturing experience.”
Alessandro Ferrari, PRINOTH Tracked Vehicles CEO and the new CEO of Jarraff Industries, continued, “Jarraff’s products provide the industry’s safest and most efficient solution for clearing and maintaining utility rights-of-way. Furthermore, Jarraff’s culture of working close and responding fast to customer demands are an ideal fit with PRINOTH’s culture of being customer-centric and agile.”
Jarraff’s COO Steve VanRoekel will remain as the Chief Operating Officer and will count on the existing experienced management team to continue managing their operations.
Jarraff Industries, Inc. is based in Minnesota (USA) with its headquarters and production sites in St. Peter. With this acquisition, PRINOTH will further increase its presence in the USA.
