M&A · Industrials · Construction Machinery & Equip
Aebi Schmidt Holding AG to acquire Shyft Group, Inc.
Announced Dec 16, 2024 · Closed Jul 1, 2025
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Aebi Schmidt Holding AG (AEBI)
- Target
- Shyft Group, Inc.
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Jul 1, 2025
Deal protections
- Break fee (target pays)
- $13.7M
- Reverse fee (buyer pays)
- $23.9M
- Go-shop
- No-shop
- Financing
- Committed · UBS, Deutsche Bank, Alantra
Advisors
- To the acquirer
- Alantra
- To the target
- Deutsche Bank
Sector context · Industrials
- Comparable deals
- 87 in the prior 24 months
- Premium
- Sector median 34.0%
- EV / Adj. EBITDA
- Sector median 9.3x
- Break fee
- Sector median 2.8%
Timeline
- AnnouncedDec 16, 2024
- Proxy filedMay 14, 2025
- Definitive proxyMay 14, 2025
- Shareholder voteJun 17, 2025
- ClosedJul 1, 2025
Valuation · fairness opinions
Trading comparables$410.00$475.00
Other analysis$595.00$690.00
Other analysis$505.00$595.00
Other analysis$635.00$750.00
Other analysis$645.00$770.00
Implied value per Shyft Group, Inc. share by analysis, from Deutsche Bank · DCF discount rate 13%–14%.