Successful Deals with PwC: Aebi Schmidt Group to merge with The Shyft Group

The PwC Deals team is pleased to announce that Aebi Schmidt Group and The Shyft Group (NASDAQ: SHYF) announced a definitive agreement to combine in an all-stock merger.

PwC provided financial, tax and HR due diligence services, tax structuring services and selected advise in relation to drafting of the transaction documents. The merger will create a world leading specialty vehicle manufacturer and upfitter, with estimated 2024 combined revenue of nearly 2 billion U.S. dollars. After closing, Aebi Schmidt’s shares will trade in the U.S. on the NASDAQ Stock Market. Aebi Schmidt’s current shareholders will hold a majority in the combined company at closing. The two companies are very complementary. As a result of the acquisition, the combined company will have around 70 locations worldwide, 40 of which will be in the U.S. The combined revenue of the two companies is expected to reach around 2 billion dollars in 2024, with a pro forma adjusted EBITDA (incl. run-rate synergies) of around 200 million.

The PwC team

Financial Due Diligence - Swiss Team:

Frank Minder (Partner)
Patrick Amstutz (Director)
Tanja Gorgieva (Manager)
Monika Bukowska (Senior Associate)
Joshua Steiner (Senior Associate)

CMAAS - Swiss Team:

Delia Ramp (Partner)
Marco Hafner (Director)
Nikki Heilbrunn (Senior Manager)

HR Due Diligence - Swiss Team:

Kristi Leibur-Nagel (Partner)
Ester Lamerikx (Senior Manager)

HR Due Diligence - US Team:

Sarah Tunku Mu'Tamir (Partner)
Jake Kimball (Partner)
Kanth Sishtla (Director)
Emma Ratcliffe (Senior Associate)
Leah Ewers (Associate)

Tax - Swiss Team:

Jürg Niederbacher (Partner)
Gabriel Neukomm (Director)
Klara Ivic (Senior Associate)
Christina Anna Leu (Associate)

Tax - US Team:

Shawn Hussein (Partner)
Michael Stratis (Partner)
Nicholas Stratis (Partner)
Catherine S. Mock (Director)
James Aaron Gross (Director)
Caroline Dorothy Sawn (Manager)
Christopher Cozzi (Senior Associate)
James Casey Waller (Associate)