The Shyft Group announced on April 4 that Aebi Schmidt Group has filed a registration statement on Form S-4 with the Securities and Exchange Commission, advancing the companies’ proposed merger. The filing marks a significant step toward finalizing the transaction expected to close by mid-2025.
The registration statement includes a preliminary prospectus and proxy statement detailing the merger and financial outlook for the combined company. It outlines pro forma U.S. GAAP revenues of $1.9 billion and adjusted EBITDA of $148 million in 2024.
Shyft, based in Novi, Michigan, is a company that manufactures specialty vehicles, assembles them, and upfits them for commercial, retail, and service markets across North America. The company employs about 2,900 people across multiple facilities in the United States and Mexico.
Upon completion of the merger, the combined company will operate under the name Aebi Schmidt Group. Its shares are expected to be listed on Nasdaq under the ticker symbol “AEBI.”
“Filing the S-4 is an important milestone as we move closer to completing the merger and begin the SEC review process,” said James Sharman, chairman of the board of directors of Shyft.
“We look forward to bringing together the strengths and expertise of both teams to build a company with the size and scale to deliver exceptional value for our customers, drive sustainable growth, and create long-term shareholder value,” Sharman noted.
The merger is subject to approval by Shyft shareholders and other customary closing conditions, as well as the registration statement being declared effective by the SEC.
Shyft’s portfolio includes brands such as Utilimaster, Blue Arc EV Solutions, Royal Truck Body, DuraMag, Spartan RV Chassis, and more.