Fayat Group Acquires Controlling Interest in Asphalt Drum Mixers
Fayat has acquired a controlling interest in Asphalt Drum Mixers LLC (ADM), effective July 1st, 2024. Asphalt Drum Mixers LLC is based in Huntertown, Ind., and manufactures high-quality asphalt plants and components for contractors and asphalt producers worldwide.
Through the acquisition of ADM, Fayat further strengthens its strategic position in the road construction and maintenance equipment segment. ADM is joining the Fayat Mixing Plants business unit, which includes the brands Ermont, a worldwide leader in continuous mixing plants, and Marini, a worldwide leader in batch mixing plants.
The acquisition of ADM allows Fayat to expand its strategic position in North America, by leveraging synergies with the following brands already present in the asphalt business: Bomag, Dynapac and Secmair. Being a family-owned business with decades of experience in the road construction and maintenance equipment business, the Fayat Group will provide ADM with the backing to be a growing and long-term dependable partner for its customers.
To ensure continuity and an effective transition, Fayat is pleased that the Boyd-Devine family will remain as a minority owner and that Mike Devine remains as president of ADM, a position he has served since 2004. Under the Fayat umbrella of companies, ADM will operate as an autonomous manufacturer continuing to market its products under the brand name of ADM. ADM will also continue to provide its customers with long-lasting solutions to meet the custom requirements of every job, from planning to production to service after the sale.
In the development of future technologies, ADM will collaborate with other companies within the Fayat Group to offer customers the best solutions for tomorrow’s challenges. “This acquisition is a great opportunity for the Fayat Group and its customers, as ADM is a key player in the road construction equipment market in North America, with a highly recognized brand,” said Jean-Claude Fayat, president of the Fayat Group. “ADM has an excellent strategic place in our group, and we plan to grow and expand its presence and product offering. We will leverage its expertise and technologies together with our existing portfolio to continuously develop equipment that closely addresses our customers’ needs.”
“We are very happy to join the Fayat family and have already seen many opportunities to grow ADM and to offer more and better solutions to our customers,” said Mike Devine, president of ADM. “We look forward to a long-lasting partnership with the Fayat Group.”
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.