Right Lane Industries Announces Agreement to Acquire the Rear Discharge Mixer Businesses of McNeilus and London Machinery Inc. from Oshkosh Corporation
DODGE CENTER, Minn. & LONDON, Ontario, January 31, 2023--(BUSINESS WIRE)--Right Lane Industries ("Right Lane") announced today that it has entered into a purchase agreement to acquire London Machinery, Inc. and the Rear Discharge Mixer business of McNeilus Truck and Manufacturing, Inc. (collectively, "RDM" or the "Business") from Oshkosh Corporation. The acquisition, which is expected to close near the end of February, includes all rear discharge concrete mixer operations of the seller, including the iconic Bridgemaster brand, but does not include any of the McNeilus-branded refuse or front discharge mixer product lines.
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Rear Discharge Units (Photo: Business Wire)
The London and McNeilus brands, with 171 years of combined heritage, will continue to serve the concrete industry under the leadership of industry veteran Bob Monchamp with the existing team remaining in place. The acquisition will be seamless for customers, who will continue to interface with their existing contacts at the Business to purchase the premier concrete mixers and OEM aftermarket parts and service. RDM will continue to manufacture new products out of London, Ontario, with an R&D and support facility in Dodge Center, MN, and provide aftermarket parts to customers globally.
"The RDM Business has distinguished itself in the concrete mixer industry as a leader in quality and product innovation, and we at Right Lane are excited to partner with the existing team to continue to build upon that legacy and to deliver enhanced value to our customers over time," said Eric Mara, CEO of Right Lane.
Bob Monchamp, who will be named President upon the closing of the acquisition, commented, "Our industry leading brands will continue to serve the concrete industry under the new ownership of Right Lane. Our team is excited to continue to support customers and drive innovation in the rear discharge market. We see tremendous opportunities for the brands with a dedicated focus on the rear discharge mixer business."
About Right Lane Industries
Right Lane Industries is a privately-held industrial holding company focused on acquiring manufacturing and industrial services businesses for a permanent holding period. RLI is controlled and majority-owned by its management team, which allows for nimble decision making, and a long-term orientation that is driven by a desire to build great businesses. Right Lane specializes in corporate carveouts and other non-traditional buyout transactions.
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