BREAKING NEWS: Just ahead of the Fourth of July holiday, the Fayat Group surprised the industry and announced it had acquired a controlling interest in North American asphalt plant manufacturers Asphalt Drum Mixers Inc. (ADM), effective July 1, 2024. While there were some rumors swirling the most recent World of Asphalt in Nashville, TN, that the FAYAT Group had some interest in joining the North American asphalt production market, there weren't any indications about when such a move might happen.
The addition of ADM compliments their global 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. Overall, this allows FAYAT to further strengthen its domestic position in the asphalt and road building industry alongside their other brands: BOMAG, DYNAPAC, and SECMAIR.
According to a press release sent out by FAYAT:
The FAYAT Group will provide ADM with the backing to be a growing and long-term dependable partner for its customers. Moreover, 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.
“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.”
The Future For ADM
Currently, ADM will now come under the FAYAT group umbrella of companies, however, it will continue to operate autonomously as manufacturer of the trusted products that their customers have come to rely upon. Additionally, ADM will still provide its clients with the type of relationships and solutions they've come to expect from the company from custom planning, to production, and service. Going forward, ADM will have the benefit of collaboration with the other companies within the FAYAT Group to develop future technologies and innovations going into the future.
“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.”
