Prinoth Purchases Jarraff Industries Inc.

PRINOTH announces the execution of an agreement to purchase 100% of the capital stock of Jarraff Industries Inc., a privately-owned American company that specializes in the design, manufacturing and commercialization of high quality, specialized right-of-way maintenance, land clearing and tree care equipment that is used throughout the world.

Jarraff Industries was founded in 1979 in St. Peter, Minnesota, by inventor George Boyum, who wanted to meet the market needs for a lightweight machine, able to operate in rough terrain, with no set-up time, and with a high degree of stability without outriggers. Today, the company has secured preferred-supplier status with most of the national, regional, and local right-of-way maintenance contractors, utility companies, and tree care companies. The current range of Jarraff products includes: Jarraff All-Terrain Tree Trimmer, Mini-Jarraff Urban Forester and the LineBacker Brush Cutter.

The transaction is a positive, strategic fit for both companies. Jarraff Industries brings a lineup of highly specialized equipment that will enhance and be a perfect complement to the existing line of PRINOTH products such as the Hydraulic Mulcher heads, the RAPTOR line of mulcher carriers and the PANTHER line of crawler carriers.

Heidi Boyum, the President of Jarraff Industries stated, “I am very proud of the legacy we have established and nurtured over the past 42 years. As a family-run business, I view today’s transaction as an opportunity to ensure that the business, customers, employees, and the community we are in, continue growing while joining an even larger family.” Heidi Boyum, will continue to work as a strategic advisor to Jarraff Industries and PRINOTH.

“Jarraff is a perfect addition to the HTI family. We treasure companies like Jarraff that live the values that we consider essential such as innovation, sustainability and dedication.” said Anton Seeber, President of the HTI Group that includes such industrial companies as LEITNER-POMA of America, PRINOTH, DEMACLENKO and LEITWIND.

Klaus Tonhäuser, President of the PRINOTH Group, commented, “This acquisition confirms PRINOTH’s commitment to invest and grow its presence in the specialized off-road equipment business. This better positions PRINOTH in the high-demand utilities right-of-way and maintenance segment. Jarraff’s specialized product portfolio and strong presence in these critical market segments will provide our customers access to industry-leading products backed by our brand, distribution, and manufacturing experience”.

Alessandro Ferrari, CEO of PRINOTH Tracked Vehicles and the new CEO of Jarraff Industries, continued “Jarraff’s products provide the industry’s safest and most efficient solution for clearing and maintaining utility right-of-ways. Furthermore, Jarraff’s culture of working close and responding fast to customer demands is an ideal fit with the customer-centric and agile culture of PRINOTH.”

Jarraff’s COO Steve VanRoekel will remain as the Chief Operating Officer, who will count on the existing experienced management team to continue managing their operations.

Jarraff Industries, Inc. has its headquarters and production sites in St. Peter, Minnesota. With this acquisition, PRINOTH will further increase its presence in the United States.