Art's Way Manufacturing (Nasdaq: ARTW), has completed the acquisition of the M&W round hay baler product line of Gibson City, Ill.
The family of hay balers from M&W includes nine different models in four different series to handle most any haying application. Depending on model, M&W balers form a 4' x 4', 4' x 5', 5' x 5', or 5' x 6' bale to fit a wide range of haying operations.
J. Ward McConnell, Jr., Chairman of the Board, said, "The M&W round hay baler line is one of the most respected brands in the industry and we are extremely pleased to add this line to the Art's Way family. We believe the M&W line will be earnings accretive immediately, hold a compelling valuation, is an outstanding fit with our industry-leading niche Ag equipment and is another important element in our 'roll-up strategy'.
"This vertical acquisition allows us to expand our product line, improve our leadership position, build our asset base for revenue growth and increase shareholder value. Additionally, there is a loyal and dedicated group of M&W dealers nationwide who will now be introduced to Art's Way complete product line."
M&W balers feature fewer moving parts, when compared to "like" competitive balers, helping keep maintenance costs minimal.
Operation is simple due to fewer moving parts; an "open-throat" chamber design that reduces the risk of bale starting problems; and an easy push button tying mechanism.
As a result, operator fatigue and time spent in the field is reduced. Push button twine tying is standard on the 4407, 4500, 5506, and 5600 balers. The 4497, 4590, 5596, and 5690 feature either push button twine or net wrap tying systems to fit a wider range of haying operations. Unlike competitive belt balers, the M&W bale chamber is nearly fully enclosed which reduces leaf loss, resulting in a higher quality bale.