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July 25, 2024

Norwalk-based Terex to acquire solid waste management company for $2B

Contributed Norwalk-based Terex Corp. has agreed to acquire Environmental Solutions Group, which owns the Heil garbage truck brand, for $2 billion.
By Andrew Larson

Terex Corp., a publicly traded company based in Norwalk that produces materials processing machinery and aerial work platforms, is expanding with the acquisition of a solid waste management company for $2 billion.

Terex has entered into an agreement to acquire Environmental Solutions Group (ESG), headquartered in Chattanooga, Tennessee. 

ESG designs and produces refuse collection vehicles, compactors and balers, along with aftermarket products including onboard vehicle safety systems and route management, predictive maintenance and customer relationship management software. 

ESG, which generated about $750 million in revenue in 2023, produces garbage trucks under the Heil brand and also sells Marathon commercial trash compactors and recycling balers.

Terex is purchasing ESG from Dover Corp., a publicly traded company based in Downers Grove, Illinois.

The deal is expected to close in the second half of 2024.

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