Company Overview - The Shyft Group, Inc. is the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery and broader commercial, retail, and service specialty vehicle markets [2] - The company operates two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™ [2] - The Shyft Group employs approximately 3,000 employees and contractors across various facilities in the United States and Mexico [2] Financial Performance - The Shyft Group will announce its fourth quarter and full-year 2024 financial results on February 20, 2025 [1] - The company reported sales of $872 million in 2023 [2] Market Position - The Shyft Group serves a diverse customer base, including first-to-last mile delivery companies, government entities, and utility and infrastructure segments [2] - The company is recognized for quality, durability, and first-to-market innovation in its industry [2]

Core Viewpoint - The Shyft Group has announced a proposed all-stock merger with Aebi Schmidt Group, which is expected to maximize shareholder value and create a leading specialty vehicles company with significant growth potential [1][3]. Transaction Overview - The merger agreement was announced on December 16, 2024, and involves an exchange of approximately 1.04 shares of the combined company's stock for each outstanding share of Shyft common stock [3]. - The transaction is structured to be tax-free for Shyft shareholders and has received unanimous approval from the boards of both companies [5]. Financial Projections - The combined company is projected to achieve pro forma revenue of $2.7 billion and adjusted EBITDA of $315 million by 2028, with an adjusted EBITDA margin of 12% [4]. - Long-term projections indicate a strategic vision to exceed $3 billion in revenue with an adjusted EBITDA margin in the mid-teens [4]. - The transaction offers a premium of approximately 30% to Shyft's share price as of December 13, 2024, and a premium of about 58% when including synergies [4]. Leadership and Market Position - Aebi Schmidt's global footprint and diverse market presence are seen as complementary to Shyft's operations, enhancing growth opportunities in North America [1][4]. - Aebi Schmidt has a strong track record in M&A integration and has demonstrated successful growth in various end markets [4]. Closing Timeline - The merger is expected to close by mid-2025, pending customary regulatory approvals and shareholder approval from Shyft [6]. Company Profiles - The Shyft Group is a leader in specialty vehicle manufacturing in North America, reporting sales of $872 million in 2023 and employing approximately 3,000 people across 19 locations [8]. - Aebi Schmidt Group is a global provider of solutions for transportation surfaces, achieving net revenue and order intake exceeding EUR 1 billion in 2024, with around 3,000 employees [9].

Company Overview - The Shyft Group is a North American leader in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service specialty vehicle markets, with a 50-year legacy serving various customers including delivery companies and government entities [2] - The company operates two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™, and employs approximately 3,000 employees across 19 locations [2] - In 2023, the company reported sales of $872 million [2] Leadership Changes - Scott Ocholik has been appointed as Interim Chief Financial Officer effective January 1, 2025, following the resignation of CFO Jon Douyard [6] - Ocholik has been with the company since 2019 and previously served as Vice President, Chief Accounting Officer, and Corporate Controller [7] - John Dunn, President and CEO, expressed confidence in Ocholik's financial expertise and leadership during this pivotal time for the company [5]

Core Viewpoint - The Shyft Group and Aebi Schmidt Group have announced an all-stock merger to form a leading specialty vehicles company, with Shyft shareholders owning 48% and Aebi Schmidt shareholders owning 52% of the new entity upon closing [1][2]. Group 1: Merger Details - The merger combines Aebi Schmidt's expertise in specialty vehicles with Shyft's manufacturing capabilities, creating a comprehensive suite of offerings for customers [2]. - The new company will derive approximately 75% of its revenues from the North American market, supported by Aebi Schmidt's European operations [3]. - The merger is expected to close by mid-2025, pending regulatory approvals and shareholder consent [7]. Group 2: Financial Projections - Pro forma revenues for 2024 are estimated at $1.95 billion, with adjusted EBITDA exceeding $200 million [5]. - The combined entity anticipates achieving annual cost savings of $20-$25 million and an additional $5 million in adjusted EBITDA from synergies [4]. - Pro forma net debt is projected to be approximately $485 million as of September 30, 2024 [5]. Group 3: Governance and Leadership - Barend Fruithof, Aebi Schmidt's CEO, will lead the new company, with Shyft's chairman James Sharman serving as chairman of the board [6]. - The board will consist of 11 members, including five from Shyft and six from Aebi Schmidt, along with seven independent directors [6]. - Aebi Schmidt's majority shareholder, Peter Spuhler, will own about 35% of the new company [6].

Core Viewpoint - Monteverde & Associates PC is investigating Shyft Group, Inc. regarding its proposed merger with Aebi Schmidt Group, where Shyft shareholders will own 48% of the combined entity and Aebi Schmidt shareholders will own 52% [1]. Group 1 - Monteverde & Associates PC has recovered millions for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report [1]. - The firm is headquartered in the Empire State Building, New York City [1]. - The investigation pertains to the merger agreement between Shyft Group, Inc. and Aebi Schmidt Group [1].

Merger Overview - The Shyft Group and Aebi Schmidt Group announced a definitive agreement to combine in an all-stock merger, creating a leading specialty vehicles company [1] - The combined company is expected to generate 2024 pro forma revenue of approximately $1.95 billion and adjusted EBITDA of over $200 million, including synergies [1] - The transaction is expected to be EPS accretive in Year 1 and generate ROIC greater than the cost of capital by Year 3 post-close [1] Strategic Rationale - The merger combines Aebi Schmidt's specialty vehicle products and services with Shyft's manufacturing and upfit capabilities, creating a full-suite of offerings for customers [2] - The combined company will benefit from a scaled platform in the attractive North American market, representing approximately 75% of revenue, complemented by a strong European presence [4] - The merger brings together two highly complementary product suites, enhancing the ability to serve customers and drive outsized growth [4] Financial Benefits - The combined company expects to generate $20 to $25 million in annual run-rate cost synergies and an additional $5 million in adjusted EBITDA from near-term revenue synergies [4][5] - The transaction is expected to be accretive to EPS and generate ROIC above WACC by the first and third years post-close, respectively [5] - Pro forma net debt is expected to be approximately $485 million as of September 30, 2024 [5] Management and Governance - Barend Fruithof, current CEO of Aebi Schmidt, will serve as CEO of the combined company, while James Sharman, current Chairman of Shyft, will serve as Chairman [1][5] - The Board of Directors will consist of 11 directors, with five nominated by Shyft and six by Aebi Schmidt, seven of whom will be independent [6] - Aebi Schmidt majority shareholder Peter Spuhler will own approximately 35% of the combined company post-transaction [6] Transaction Details - The transaction is expected to close by mid-2025, subject to customary closing conditions and regulatory approvals [8] - The combined company will trade on NASDAQ and will be a Swiss-domiciled stock corporation with a strong presence in the US [7] - Shyft and Aebi Schmidt have secured fully-committed financing for the transaction [8] Company Backgrounds - The Shyft Group is a North American leader in specialty vehicle manufacturing, assembly, and upfit, with 2023 sales of $872 million and approximately 3,000 employees [12] - Aebi Schmidt Group is a global provider of smart solutions for clean and safe transportation surfaces, with 2023 net revenue of EUR 935 million and approximately 3,000 employees [13]

NOVI, Mich., Nov. 21, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that Jon Douyard has resigned as Chief Financial Officer to pursue another professional opportunity outside the industry. He will continue to serve as CFO until December 31, 2024 to ensure a smooth transition."On behalf of our employees, e ...

Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has The Shyft Group (SHYF) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out. The Shyft Group is a member of our Auto-Tires-Trucks group, which includes 102 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the i ...

NOVI, Mich., Oct. 28, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced strategic partnerships with Allegiance Trucks, LLC, and Ascendance Trucks, LLC, to establish dealer sales and service for the Blue Arc™ Class 4 all-electric truck. These agreements expand Blue Arc's dealer network in the Northeast region, enhancing its reach and acc ...

Third Quarter 2024 Earnings Conference Call October 24, 2024 © THE SHYFT GROUP, INC. | Proprietary & Confidential SHYFTGROUP Forward-Looking Statement This presentation release contains information, including our sales and earnings guidance, all other information provided with respect to our outlook for 2024 and future periods, and other statements concerning our business, strategic position, financial projections, financial strength, future plans, objectives, and the performance of our products and operati ...