WINN, MI — Morbark has completed the acquisition of Rayco Manufacturing, which designs and produces an innovative line of environmental equipment, including stump cutters, forestry mulchers and brush chippers.
The transaction is the first acquisition since affiliates of the private equity firm Stellex Capital Management acquired Morbark in 2016. The purchase of Rayco represents a significant move towards the Morbark’s strategic focus on broadening the range of tree care and industrial equipment, aftermarket parts, and service offered to its customers.
Rayco was founded in 1978 in Wooster, Ohio, by John M. Bowling, who as the owner of a tree care service, identified the unique needs of the tree and landscape industry and began to build equipment to meet and surpass those needs. The current range of Rayco products includes: stump cutters, crawler trucks, forestry mulchers, multi-tool carriers, and attachments, brush chippers and the all-new AT71 aerial trimmer.
Dave Herr, CEO of Morbark, commented, “We are thrilled to welcome Rayco to the Morbark portfolio of companies. We value the long-standing success of Rayco and are committed to providing the Bowling family and their dedicated employees the resources they need to continue the success they have built.”
Morbark will operate Rayco as a new division maintaining its brand identity. Rayco’s experienced management team will continue to manage its operations.
Morbark manufactures high-performance equipment for forestry, recycling, tree care, sawmill and biomass markets. Rayco stump cutters, aerial trimmers, forestry mulchers and crawler trucks will expand and complement the existing Morbark family of products.