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Bandit calls off sale to Alamo

By |  December 18, 2013
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Bandit Industries announced last month that it would be sold to Alamo Group, a manufacturer of tractor-mounted mowing and grounds maintenance equipment. But, in a development announced Wednesday, the company will remain privately owned and in the hands of owners Jerry Morey, Mike Morey Sr. and Dianne Morey.

“Alamo is an exceptional company and we are very honored that they’ve shown such an interest in Bandit and our corporate culture,” says Jerry Morey, Bandit president, in a press release. “We share many common ideas and visions, and we are grateful for the relationships we’ve built. Ultimately, we decided the best future for Bandit and our 400 employees at this time was to remain a private company.

“When we first announced that we were considering offers to sell Bandit, myself, Mike Morey Sr. and Dianne Morey said that we would only sell if it was the right fit,” Jerry Morey continues. “Taking care of our employees and our dealer network, continuing to support our mid-Michigan community and maintaining the Bandit legacy we built over the last 30 years are things we cannot put a price on.

Jerry Morey says Bandit will continue to explore options for a potential sale of the company.

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