ASV Holdings, Inc. Announces New Ownership Structure via Initial Public Offering (IPO)

Newly Re-Activated Dealer Network Expected to Drive Company Forward with Best-in-Class Compact Track Loaders and Skid Steers

GRAND RAPIDS, Minn.--(BUSINESS WIRE)-- ASV Holdings, Inc. (NASDAQ:ASV), a designer and manufacturer of compact construction equipment, today announced that it has recently completed an underwritten Initial Public Offering (IPO) and is now a publicly-held company with shares trading on the NASDAQ under the symbol “ASV”.

ASV, formerly operating as a joint venture of Manitex International and Terex Corporation had 2016 net sales of $103.8 million and over 130 independent dealer locations throughout North America. The company is pleased to announce that the change in corporate structure to a public company offers benefits of greater access to capital, higher public visibility, and an added level of sophistication through new institutional investors and regulated board oversight.

The company remains led by CEO, Andrew Rooke, who is a veteran industrial equipment executive that has been pivotal in the transformation of the company through the IPO, Missi How, CFO, who has held the company’s most senior financial positions since joining the organization in 1999, and Jim DiBiagio, COO, who since joining the organization in 2013 leads the company’s operations, commercial and technology areas of the business. Andrew, Missi and Jim are assisted by a solid leadership team including Bill Wake, Director of Engineering and Product Development, and Steve Gatti, National Sales Manager for North America, who manages the dealer network.

About ASV Holdings, Inc.

ASV, Inc. manufactures and sells a line of high quality compact track and skid steer loaders. Equipment designed and built by ASV uses unique and patented rubber track and undercarriage technology that provides exceptional traction on soft, wet, slippery, rough or hilly terrain. ASV's history dates back to 1983. Its founders, forerunners of the early snowmobile industry were also founders of Polaris Industries and then Arctic Cat. For more information about ASV and its products please visit http://asvllc.com/about-us/

ASV Holdings, Inc.
Andrew Rooke, 800-346-5954
Chief Executive Officer
Andrew.rooke@asvllc.com
or
Darrow Associates, Inc.
Peter Seltzberg, 516-419-9915
Managing Director
Investor Relations
pseltzberg@darrowir.com

Source: ASV Holdings, Inc.