Morbark, LLC has completed the acquisition of Rayco Manufacturing, Inc. (Rayco). This transaction represents the first addition since affiliates of the private equity firm Stellex Capital Management LP acquired Morbark in 2016.
Rayco is dedicated to the design and production of a line of environmental equipment. The current range of Rayco products includes stump cutters, crawler trucks, forestry mulchers, multi-tool carriers and attachments, brush chippers and the all new AT71 aerial trimmer.
The transaction is a strategic fit for both companies. Rayco brings a lineup of equipment into the Morbark family across multiple product categories.
Rayco founder, John Bowling, will continue his work with the team to develop new products and help improve the company’s existing product lines. He will continue to have an economic interest in the combined business and will be a member of Morbark’s board of directors.
Published in the January 2018 Edition.