Owner Resource Group (ORG) acquired a controlling stake in Canadian manufacturer K-Tec Earthmovers last year. Now it has bought US manufacturer Ashland Industries as well and is putting the two companies together.
The newly merged organizations will be headquartered in Rosenort, Manitoba, Canada and led by K-Tec president Mikhail (Mike) Palitsky. Ashland’s manufacturing base in Wisconsin, USA will be kept going.
K-Tec and Ashland both make earthmoving scrapers and accessory products for construction, mining, and agriculture markets.
Ashland spokesperson Randy Rust said: “The merger of our two companies will provide our dealers and customers a market leader with the broadest range of land transforming equipment available today. With the merger of our companies and continued support from our strong strategic OEM partnerships, we expect to provide industry-leading solutions and support to our customers.”
ORG managing director Jonathan Gormin said, “We are excited about our partnership with K-Tec and Ashland and believe in the long-term growth potential of the companies. We believe this transaction supports the vision of both management teams to be a global leader in the earthmoving industry. The combination will allow the business to expand its product offerings, enhance innovation and provide outstanding support to our dealers. We look forward to supporting the management team’s efforts to realize the full potential of the combined organization.”