The Shyft Group and Aebi Schmidt Holding AG announced the successful completion of their merger, creating a global specialty vehicle company operating under the name Aebi Schmidt Group.
The transaction merges Shyft, a North American manufacturer of specialty vehicles, with Aebi Schmidt, a Switzerland-based provider of infrastructure and environmental solutions, to form a unified entity with expanded reach and capabilities across North America and Europe.
The combined company is set to begin trading on the NASDAQ exchange under the ticker symbol “AEBIV” on a “when-issued” basis on July 1 and “AEBI” on a “regular-way” basis beginning July 2.
“We are proud to unite two outstanding organizations under the Aebi Schmidt Group name,” Barend Fruithof, group chief executive officer of Aebi Schmidt Group, said in a press release.
“This merger brings together deep engineering expertise, strong customer relationships, and a shared focus on delivering essential solutions for infrastructure and mobility,” Fruithof added.
The merger creates a specialty vehicle manufacturer with a broader portfolio and improved operational scale.
“This marks the start of an exciting new chapter for Shyft,” said James Sharman, chairman of the board of Aebi Schmidt Group.
“By having Shyft and Aebi Schmidt join forces, we are creating an organization with the scale, diversity, and operational strength to lead in the evolving specialty vehicle industry,” Sharman added,
Under the terms of the agreement, each share of Shyft common stock was converted into approximately 1.04 shares of the newly formed company’s common stock. The merger was structured to be tax-free for Shyft shareholders under U.S. federal income tax rules.
The newly combined company brings together legacy expertise from both organizations. Fruithof will lead the company as CEO, while Sharman will serve as chairman of the board.
Shyft, headquartered in the United States, manufactures and upfits specialty vehicles for commercial, service, and government markets.
Its brands include Utilimaster, Blue Arc EV Solutions, Royal Truck Body, and Spartan RV Chassis. Shyft reported $786 million in sales for 2024 and employs approximately 2,900 individuals across North America and Mexico.
Aebi Schmidt Group, headquartered in Switzerland, serves global markets with solutions for road maintenance, snow removal, and agricultural applications. In 2024, the company reported over €1 billion in net sales and employed about 3,000 staff across more than a dozen production facilities and 16 sales organizations worldwide.