Alamo Group buys Ripon gritter maker and hire firm Econ Engineering for £120m

US-listed Alamo Group Inc. has bought Econ Engineering Group Limited, the Ripon-based manufacturer and hire provider of gritters and road maintenance trucks, for about £120m in a deal that closed on 27 October 2026.

Alamo Group said in a release datelined Seguin, Texas, that the price, about $158.7m and subject to customary closing adjustments, was funded through its revolving credit facility. The purchase was made through its wholly owned subsidiary Alamo Group Europe Limited under a definitive share purchase agreement, according to the group's Form 8-K filed with the US Securities and Exchange Commission (SEC).

Robert Hureau, Chief Executive Officer of Alamo Group Inc., said: "Econ is a strong addition to Alamo Group and advances our strategy to expand our Industrial Equipment portfolio."

He added: "Econ also gives us a stronger platform in the UK and creates opportunities for long-term growth."

The business

Alamo Group said Econ, founded in 1969 and headquartered in Ripon, North Yorkshire, makes gritters, de-icing vehicles, road patching and repair equipment and multi-purpose truck bodies. It said Econ also runs a rental fleet of about 1,300 of its own vocational trucks and provides parts and service support across the UK.

Econ's own website gives a headline figure of 1,000+ gritters in its hire fleet, along with 250 employees and five locations. Its heritage page says the service site it opened in Sowerby in 2022 houses the 1,000 gritters in its hire fleet.

Alamo Group said Econ generated about $88m of net sales and $38.5m of Adjusted EBITDA in the financial year ended 31 March 2026. Econ will become part of Alamo Group's Industrial Equipment Division, the group said.

Alamo Group told the SEC it intends to continue operating from the owned and leased UK facilities where Econ currently operates.

Family background

According to Econ's heritage page, Bill Lupton set up the business in the old Vaux Brewery in Ripon in 1969, and his sons Andrew and Jonathan Lupton took over from him in 2003. Thomas Lupton, son of Andrew, was promoted to director in 2024.

Econ began offering vehicle hire in 2001, which it describes as a cost effective alternative to buying outright. By 2019 the company reported over 200 staff, £28m turnover and 640 units produced a year. In 2023 it unveiled a zero-emission gritter, which it describes as an industry first.

Econ has also announced a £1.1m investment in production capability at Ripon, buying a Bystronic ByStar 6225 laser cutting system with a 12kW laser head.

Companies House records show Econ Engineering Group Limited, company number 14380655, was incorporated on 27 September 2022 as a holding company. Its registered office is now recorded at Alamo Group Europe Limited, Station Road, Salford Priors, Evesham. Econ Engineering Limited, company number 00644062, was incorporated on 9 December 1959 and is classed under manufacture of other special-purpose machinery.

The buyer

Alamo Group, also founded in 1969, has about 3,800 employees and 27 manufacturing facilities in North America, Canada, Europe, Brazil and Australia, according to its release. Hureau said that beyond the initial synergies the group expects from bringing Econ onto its platform, "we see significant room to grow the business both within and beyond its core market."

MCF Corporate Finance said it acted as exclusive financial adviser to Alamo Group on the transaction, with Partner Ian Henderson as deal lead. MCF said the deal was a further step in Alamo Group's strategy to expand its Industrial Equipment portfolio.

Alamo Group's SEC filing states the £120m consideration remains subject to post-closing adjustments.