The FAYAT Group has acquired a controlling interest in Asphalt Drum Mixers LLC (ADM), based in Huntertown, Indiana. ADM manufactures high-quality asphalt plants and components for contractors and asphalt producers worldwide.
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 partner for its customers.
The Boyd-Devine family will remain as a minority owner and Mike Devine remains as President of ADM, a position he has held since 2004.
Under the FAYAT umbrella of companies, ADM will operate as an autonomous manufacturer continuing to market its products under the well-respected brand, ADM.
“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 recognised 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.”
