The Shyft Group Inc. in Novi has filed a registration statement on Form S-4 with the Securities and Exchange Commission relating to its proposed merger with Switzerland’s Aebi Schmidt Group. The proposed merger was announced late last year.
The registration statement includes a preliminary prospectus and proxy statement in connection with the merger. Although the registration statement has not yet become effective and the information contained therein is subject to change, it provides added information about Shyft, Aebi Schmidt, and the merger.
It includes pro forma U.S. GAAP financial results for 2024, including combined revenues of $1.9 billion and adjusted EBITDA of $148 million. The expected closing date of the merger is mid-2025, and is subject to the registration statement being declared effective by the SEC, approval by shareholders of Shyft, and certain other customary closing conditions.
Upon the consummation of the merger, the combined company is expected to be named Aebi Schmidt Group, and its shares will be listed and traded on the Nasdaq under the ticker symbol AEBI.
“Filing the S-4 is an important milestone as we move closer to completing the merger and begin the SEC review process,” says James Sharman, chairman of the Shyft board of directors. “We look forward to bringing together the strengths and expertise of both teams to build a company with the size and scale to deliver exceptional value for our customers, drive sustainable growth, and create long-term shareholder value.”
Shyft is a North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Its customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments.
Aebi Schmidt is a global leader in intelligent solutions for customers concerned about clean and safe infrastructure. The variety of its range of products comprises its own vehicles as well as attachable and demountable devices for individual vehicle equipment.
The company generated net sales of more than 1 billion EUR in 2024. Aebi Schmidt currently employs around 3,000 people in 16 sales organizations and more than a dozen production facilities worldwide. The company is represented in a further 90 countries through established dealer partnerships.
