| Ticker: GRDL | 406 Mill Avenue SW | |
| Exchange: NASDAQ-National Market | New Philadelphia, Ohio 44663 | |
| Industry: Manufacturing | (330) 339-2211 |
| Type of Shares: | Common Shares | Filing Date: | 6/25/96 | |
| U.S. Shares: | 3,500,000 | Offer Date: | 8/28/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $10.00 - $12.00 | |
| Primary Shares: | 2,950,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 550,000 | Gross Spread: | $0.70 | |
| Offering Amount: | $38,500,000 | Selling: | $0.42 | |
| Expenses: | $500,000 | Reallowance: | $0.10 | |
| Shares Out After: | 8,114,294 |
| Manager | Tier | Phone |
| Dillon, Read & Co. Inc. | Lead Manager | (212) 906-7000 |
| McDonald & Company Securities, Inc. | Co-manager | (216) 443-2300 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $118.44 | $34.14 | $30.45 | Assets: | $57.57 |
| Net Income: | $6.61 | $1.83 | $2.02 | Liabilities: | $78.85 |
| EPS: | $0.83 | $0.29 | $0.24 | Equity: | -$21.29 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading manufacturer of hydraulic excavators and material handlers as well as related service parts. The company's products are marketed under the widely respected Gradall tradename and are distinguished by their unique telescopic boom technology, versatility, productivity and reliability. The company products serve niche markets within the construction equipment industry and typically command premium prices. In 1995, total sales were $118.4 million, comprised of $49.2 million in sales of excavators, $53.6 million in sales of material handlers and $15.6 million in sales of service parts. Since January 1993, the company has introduced 12 new products which accounted for in excess of 50% of the company's net sales in 1995. The company excavators are typically used by general contractors and government agencies for ditching, sloping, finished grading, general maintenance and infrastructure products. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay debt incurred in connection with a 1995 recapitalization and to redeem outstanding preferred shares. |
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