The Shyft Group Provides Supplemental Information Reinforcing Significant Value Creation Potential Of Proposed Merger With Aebi Schmidt; Projects $2.7B Revenue, $315M Adjusted EBITDA By 2028 In Transaction Plan; Aims For $3B+ Longer-Term Goal. Deal Offers 30% Premium Excluding Synergies, 58% With, To Dec 2024 Share Price. Board Secures 48% Ownership For Shyft; Engaged Six Potential Strategic Partners.

Author: Benzinga Newsdesk | January 13, 2025 04:03pm

The Shyft Group (NASDAQ:SHYF) ("Shyft") today provided supplemental information in a presentation to shareholders regarding its proposed merger with Aebi Schmidt Group ("Aebi Schmidt"), previously announced on December 16, 2024. The presentation focuses on three core areas including:

• The Strong Long-Term Projected Pro Forma Financial Profile of the Combined Company: Including the pro forma company financial projections that informed the Board as it considered the benefits of this transaction. This includes revenue and adjusted EBITDA projections through 2028 that show the combined company is projected to deliver 2028 pro forma revenue1 of $2.7 billion, adjusted EBITDA2 of $315 million, and adjusted EBITDA margin of 12%. The combined company has a strategic vision to generate longer-term pro forma combined revenue of $3+ billion with an adjusted EBITDA margin in the mid-teens. Additionally, the presentation includes information on the implied premium of the transaction, which represents a premium to Shyft's share price as of December 13, 2024 of approximately 30% excluding synergies, and a premium of approximately 58% including synergies, demonstrating immediate value creation for shareholders.
  
  
  
   
• The Board's Thorough Process to Maximize Value for Shyft Shareholders: Including how the Board negotiated to secure Shyft's final proposed pro forma ownership of 48%. The company also disclosed the process it undertook to assess other options to maximize value, including reaching out to six other potential strategic partners.

Posted In: SHYF