January 22, 2017 2:04 PM ET

Machinery

Company Overview of ASV LLC

Company Overview

ASV LLC designs, manufactures, and markets skid steer loaders, compact track loaders, and related parts. The company offers its products for use in the construction, landscaping, and agricultural industries. It markets and sells its products in the United States, Latin America, and Australia. The company was founded in 1983 and is based in Grand Rapids, Minnesota. As of December 19, 2014, ASV LLC operates as a subsidiary of Manitex International, Inc.

840 Lily Lane

PO Box 5160

Grand Rapids, MN 55744

United States

Founded in 1983

284 Employees

Phone:

218-327-3434

Fax:

218-327-9122

Key Executives for ASV LLC

Chairman and Chief Executive Officer
Age: 72
President
Age: 58
Compensation as of Fiscal Year 2016.

ASV LLC Key Developments

Manitex International, Inc. Announces Refinancing for its ASV Joint Venture

Manitex International Inc. announced that on December 23, 2016 its ASV., LLC joint venture entity completed a new Unitranche credit agreement with PNC Bank, National Association, member of The PNC Financial Services Group Inc. and another lender to provide a $65 million, 5-year credit facility. This new facility replaces ASV's previous revolving credit and term loan facilities with two North American lenders and provides reduced interest costs, less restrictive financial covenants and will allow a faster deleveraging of debt to ASV. The new facility consists of a $35 million revolving credit facility and two term loans totaling $30 million. A total of $46.7 million was drawn at closing. The indebtedness is collateralized by substantially all of ASV's assets and the joint venture partner's equity in the joint venture.

Manitex International, Inc. Announces $12.7 Million in New Orders for ASV

Manitex International Inc. announced that ASV, its joint venture with Terex Corporation, has recently received $12.7 million in new orders, for delivery in 2016, to customers both domestically and abroad for retail and rental markets.

ASV Launches New Line of Skid Steer Loaders and Expands Existing Line of Compact Track Loaders

Manitex International Inc. has announced that ASV, its joint venture with Terex Corporation, has launched a new line of skid steer loaders and has simultaneously expanded its existing line of compact track loaders. The new model just introduced, the RT75, is the fourth in their Compact Track Loader line. ASV's newly introduced Skid Steer Loader product line also consists of four models. Skid Steer and Compact Track Loaders are primarily used in agricultural, light commercial and residential construction markets. Whereas skid steer loaders ride on rubber tires and are often used on improved surfaces, compact track loaders ride on rubber tracks and work better on soft, fragile or difficult surfaces. The new products are set to be manufactured at their manufacturing and assembly plant in Grand Rapids, Minnesota, and distributed through the new ASV distribution network under development in North America.

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