Miller Industries Acquires Southern Hydraulic Cylinder for $17.5M in Cash

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Miller Industries ($NYSE:MLR), a publicly traded company (NYSE: MLR), has recently announced the acquisition of Southern Hydraulic Cylinder for a cash payment of $17.5 million. The acquisition of Southern Hydraulic Cylinder further strengthens Miller Industries’ position in the market and expands its portfolio of products. The acquisition provides Miller Industries with additional resources and technology to further develop its product offering.

With this new acquisition, Miller Industries is well positioned to continue to deliver high-quality products to its customers around the world. The company is expected to benefit from the increased scale and capabilities of the combined business, allowing it to drive further growth and profitability.

Share Price

On Thursday, Miller Industries, a global leader in the towing and recovery industry, announced its acquisition of Southern Hydraulic Cylinder for $17.5 million in cash. The announcement pushed Miller Industries’ share price down slightly, with the stock opening at $33.2 and eventually closing at $32.8, down by 0.1% from its previous closing price of 32.9. Analysts have suggested that the acquisition will bear positive results for the company in the long term, as it allows Miller Industries to gain access to a trusted brand and new customer base. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Miller Industries are shown below. More…

Analysis

At GoodWhale, we have taken a look at MILLER INDUSTRIES‘ fundamentals and have assigned it a Risk Rating of ‘Medium’. This means that there is a medium level of risk associated with this investment from both a financial and a business perspective. In terms of financial aspects, this means that the company may not be as financially secure as others in its industry, and carries more risk of experiencing difficulties. From a business perspective, this means that there may be areas of the business that are less well defined or under-developed, potentially leading to issues down the line. To get further insight into which areas of MILLER INDUSTRIES’ business and finances may be of particular concern, we suggest registering with us. With our help, you can work to identify potential risks and ensure that your investment is as secure as possible. More…

Peers

Miller Industries Inc is one of the leading manufacturers of towing and recovery equipment in the United States. The company designs, manufactures, and markets a full line of towing and recovery equipment under the brand names of Century, Vulcan, Chevron, Holmes, Challenger, and Eagle. Miller Industries Inc has a strong market presence in North America and Europe. The company’s products are sold through a network of authorized dealers and distributors. Musashi Seimitsu Industry Co Ltd is a leading manufacturer of car parts and components in Japan. The company designs, manufactures, and markets a wide range of car parts and components under the brand names of Musashi, Seimitsu, and Douglas. Musashi Seimitsu Industry Co Ltd has a strong market presence in Asia and Europe. The company’s products are sold through a network of authorized dealers and distributors. Douglas Dynamics Inc is one of the leading manufacturers of snow plows and related equipment in the United States. The company designs, manufactures, and markets a full line of snow plows and related equipment under the brand names of Blizzard, Sno-Way, and Douglas. Douglas Dynamics Inc has a strong market presence in North America and Europe. The company’s products are sold through a network of authorized dealers and distributors. Akwel is a leading manufacturer of automotive parts and components in France. The company designs, manufactures, and markets a wide range of automotive parts and components under the brand names of Akwel, Peugeot, and Renault. Akwel has a strong market presence in Europe and Asia. The company’s products are sold through a network of authorized dealers and distributors.

– Musashi Seimitsu Industry Co Ltd ($TSE:7220)

Musashi Seimitsu Industry Co., Ltd. engages in the manufacture and sale of automotive parts, information and communication technology equipment, and industrial machinery. The company operates through the following segments: Automotive, Information and Communication Technology (ICT), and Industrial Machinery. The Automotive segment offers products such as transmissions, engine valves, and cylinder heads. The ICT segment provides products such as printed circuit boards, liquid crystal displays, and semiconductor packaging materials. The Industrial Machinery segment offers products such as machine tools and forging presses. Musashi Seimitsu Industry was founded on February 15, 1948 and is headquartered in Tokyo, Japan.

– Douglas Dynamics Inc ($NYSE:PLOW)

Douglas Dynamics Inc is a publicly traded company that manufactures and sells commercial snow plows and salt spreaders in the United States and Canada. The company has a market cap of 884.57M as of 2022 and a return on equity of 15.35%. Douglas Dynamics is the largest manufacturer of snow plows in North America and has been in business for over 60 years. The company’s products are used by municipalities, airports, highway departments, and contractors to remove snow and ice from roads and parking lots.

– Akwel ($LTS:0F8V)

Akwel is a French automotive engineering company. It is a supplier of components and systems for the automotive industry. The company has a market cap of 446.47M as of 2022 and a Return on Equity of -49.91%. Akwel’s products include body and chassis systems, powertrains, interior systems, and electronics. The company has a strong presence in Europe, Asia, and North America.

Summary

Miller Industries is an investing company that recently acquired Southern Hydraulic Cylinder for $17.5M in cash. This acquisition marks an important step for Miller Industries, who is now able to expand their expertise in the manufacturing sector. The acquisition will also help Miller Industries diversify their product offerings and capitalize on the growing demand for hydraulic cylinders. Furthermore, this deal provides the company with a major competitive advantage on the market, as they will now have access to Southern Hydraulic Cylinder’s established customer base.

This deal further strengthens Miller Industries’ position in the market, and could lead to future acquisitions in the manufacturing sector. Investors should note that Miller Industries is actively pursuing business opportunities in order to gain growth and value for shareholders.