FAYAT Group, a global leader in the construction industry, announces the completion of its 100% stake in LeeBoy, based in Lincolnton, North Carolina, USA, and renowned for its line of asphalt paving and maintenance equipment. For more than 60 years, LeeBoy has powered the world of asphalt with its top-of-the-line asphalt pavers, distributors, brooms, chip spreaders and related equipment.
LeeBoy is now part of the FAYAT Road Equipment Division, a world leader in road-building equipment, bringing the FAYAT Group Division’s total production facilities to 30 sites across Europe, Asia and the Americas. The LeeBoy acquisition will significantly expand and strengthen the Road Equipment Division’s asphalt and road building equipment offerings, especially in the commercial and municipal paving and road maintenance market segments.
The North American market is a strategic priority for the FAYAT Group, and this tactical acquisition broadens the company’s product offering in the United States and Canada. LeeBoy enables FAYAT to reinforce its leading position in North America through leveraging synergies of asphalt brands currently a part of the Road Equipment Division, including BOMAG, Dynapac, Asphalt Drum Mixers (ADM), Ravo, Scarab, Dulevo, Charlatte and, most recently, Mecalac.
Enjoying a long and rich history as one of the most iconic names in the North American asphalt commercial paving industry, LeeBoy will maintain its brand identity and operational autonomy, so it can continue delivering the products and services customers trust. FAYAT – a family business with decades-long experience in the civil works construction equipment sector – plans to support LeeBoy’s management team with both short- and long-term investments to further strengthen its market position and reinforce its commitment to outstanding customer support.
Speaking on completing the acquisition, FAYAT Group President, Jean-Claude Fayat said: “Adding LeeBoy’s highly respected equipment offering will enable FAYAT to better serve road-building customers with a more comprehensive range of solutions. The acquisition presents many opportunities for collaboration with other brands within our Road Equipment Division in the areas of research and development, manufacturing, technology, purchasing, sales and exploring select international markets. We are dedicated to investing in the LeeBoy team and the local workforce, and to building on LeeBoy’s strong culture to deliver even greater value and innovation in the years ahead for LeeBoy customers.”
