Alamo Group to acquire Petersen Industries for $166m.

Alamo Group, a global manufacturer of high-quality industrial and vegetation management equipment, agreed to acquire Petersen Industries, a manufacturer of truck-mounted grapple loader equipment, for $166m. "Since Sam Petersen and I purchased the company in 2012 from its original founder, our team of highly qualified and dedicated people helped us build upon the strong foundations of the company to make many innovative improvements which led to rapid growth and success in the industry. I fully anticipate the company will continue on its current path producing essential high-quality products while achieving even greater success under Alamo Group ownership," Casey Hardee, Petersen CEO and Owner.