February 24, 2018 1:36 PM ET

Machinery

Company Overview of ASV Holdings, Inc.

Company Overview

ASV Holdings, Inc. designs and manufactures compact construction equipment in North America, Australia, and New Zealand. It offers compact track loader and skid steer loader equipment under the ASV and Terex brands. The company also offers private label original equipment manufacturing services; and pre-and post-sale dealer support, after-sale technical support, and replacement parts. ASV Holdings, Inc. offers its products primarily for use in the construction, agricultural, and forestry industries. The company was founded in 1983 and is based in Grand Rapids, Minnesota.

840 Lily Lane

Grand Rapids, MN 55744

United States

Founded in 1983

284 Employees

Phone:

218-327-3434

Fax:

218-327-9122

Key Executives for ASV Holdings, Inc.

Chairman & CEO
Age: 59
Total Annual Compensation: $422.4K
CFO, Principal Accounting Officer & Secretary
Age: 47
Total Annual Compensation: $175.6K
Chief Operating Officer
Age: 60
Total Annual Compensation: $287.7K
Compensation as of Fiscal Year 2016.

ASV Holdings, Inc. Key Developments

James Dibiagio to Retire as Chief Operating Officer of ASV Holdings, Inc. Effective June 8, 2018

On January 8, 2018, James DiBiagio notified the Board of Directors of ASV Holdings, Inc. that he intends to retire as Chief Operating Officer of the company effective June 8, 2018.

Asv Holdings, Inc. Enters into an Amended and Restated Credit Agreement with PNC Bank

ASV Holdings, Inc. entered into an amended and restated credit agreement with PNC Bank, National Association, and another lender (the Lenders") to provide a $50 million, 5-year credit facility (the Credit Agreement"). The facility consists of a $35 million revolving credit facility (which is subject to availability based primarily on eligible accounts receivables and eligible inventory), and a term loan facility of $15 million. At the closing of the Credit Agreement, the Company had outstanding borrowings under it of approximately $28.4 million, consisting of $18.7 million in new borrowings and approximately $9.7 million which was carried over from the Company's previously-outstanding revolving credit facility. The Credit Agreement provides that the Company can opt to pay interest on the revolving credit facility and the term loan facility at either a domestic rate plus a spread, or a LIBOR rate plus a spread. The domestic rate spread is initially fixed at 1.00% for revolving loan advances until delivery of certain reporting documents with respect to the fiscal quarter ending March 31, 2018, at which point it ranges from 1.00% to 1.50% depending on the Average Undrawn Availability (as defined in the Credit Agreement). The LIBOR spread is initially fixed at 2.00% for revolving loan advances until delivery of the same reporting documents, at which point it ranges from 2.00% to 2.50% depending on the Average Undrawn Availability. For term loan advances the domestic rate spread is fixed at 3.75%, and the LIBOR spread is fixed at 4.75%. The amount of each principal payment due under the Term Loan facility will be $500,000 per quarter commencing on January 1, 2018. The Credit Agreement has a letter of credit sub-facility of $2 million and a swing loan sub-facility, each of which is fully reserved against availability under the revolving loan facility. The indebtedness under the Credit Agreement is collateralized by substantially all the Company's assets.

ASV Holdings, Inc. Presents at 5th Annual ROTH Industrial Growth and Cleantech 1x1 Event, Dec-12-2017

ASV Holdings, Inc. Presents at 5th Annual ROTH Industrial Growth and Cleantech 1x1 Event, Dec-12-2017 . Venue: Lotte New York Palace Hotel, 455 Madison Ave, NEW YORK, United States.

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Recent Private Companies Transactions

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No transactions available in the past 12 months.
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