MILLER INDUSTRIES ANNOUNCES ACQUISITION OF OMARS

Miller Industries (NYSE: MLR) completed an all-cash acquisition of Omars S.p.A on Dec 2, 2025 for approximately €17.5 million (~$20.3 million), subject to pre- and post-closing cash and net working capital adjustments.

Rhea-AI Summary

Miller Industries (NYSE: MLR) completed an all-cash acquisition of Omars S.p.A on Dec 2, 2025 for approximately €17.5 million (~$20.3 million), subject to pre- and post-closing cash and net working capital adjustments.

Omars, headquartered in Cuneo, Italy, reported ~$27 million revenue in 2024 and manufactures light-, medium- and heavy-duty car carriers and recovery vehicles. Miller says the purchase expands its European footprint, adds manufacturing capacity, and is expected to be accretive in year one. Management reiterated continued capital returns via quarterly dividends and share repurchases.

Positive

• All-cash acquisition completed for €17.5M (~$20.3M)
• Omars reported approximately $27M revenue in 2024
• Company expects the transaction to be accretive in year one
• Adds European manufacturing capacity and a recognized local brand

Negative

• Purchase price is subject to pre- and post-closing cash and working-capital adjustments

Argus Dec 2 session

-0.08% close to close Open Argus

Details

News Market Reaction – MLR

In the Dec 2 session, MLR declined 0.08%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details Miller Industries’ completed all-cash acquisition of Omars for about €17.5...

Analysis

This announcement details Miller Industries’ completed all-cash acquisition of Omars for about €17.5 million (~$20.3 million). Omars contributed roughly $27 million of 2024 revenue and expands Miller’s European footprint and manufacturing capacity, with management expecting year-one accretion. Recent filings highlight softer demand and macro pressures, so execution on integration, capacity utilization, and European market share will be key metrics to watch, along with continued capital returns via dividends and share repurchases.

Key Figures

Acquisition price (EUR): €17.5 million Acquisition price (USD): $20.3 million Omars 2024 revenue: $27 million +2 more

Acquisition price (EUR)

€17.5 million

All-cash purchase price for Omars, subject to adjustments

Acquisition price (USD)

$20.3 million

Approximate USD value of Omars transaction

Omars 2024 revenue

$27 million

Omars annual revenue for 2024

Operating history

45+ years

Omars experience manufacturing towing and recovery vehicles

Escrow amount

$876,000

Portion of Omars purchase price placed in escrow

Historical Context

5 past events · Latest: Dec 02

5 events

1. Dec 02

   Strategic acquisition

   24h Move

   -0.1%

   All-cash purchase of Omars to expand European footprint and capacity.

2. Nov 13

   Investor conference

   24h Move

   -0.9%

   Management presenting and hosting 1x1 meetings at Southwest IDEAS conference.

3. Nov 05

   Q3 2025 results

   24h Move

   +2.6%

   Sharp declines in sales and earnings but continued dividend, guidance and buybacks.

4. Oct 29

   Earnings announcement

   24h Move

   +1.8%

   Notification of Q3 release date and conference call details for investors.

5. Sep 16

   Investor meetings

   24h Move

   +0.2%

   Participation in D.A. Davidson conference with 1x1 investor meetings.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

all-cash transaction, aggregate purchase price, net working capital, forward-looking statements, +4 more

8 terms

all-cash transaction financial

"in an all-cash transaction for an aggregate purchase price"

An all-cash transaction is a deal where the full purchase price is paid immediately in cash or cash equivalents, rather than through financing or installment payments. For investors, this type of transaction often indicates a quick, straightforward sale and can signal confidence from the buyer, potentially affecting the value and perception of the involved assets.

aggregate purchase price financial

"for an aggregate purchase price of approximately €17.5 million"

The aggregate purchase price is the total amount a buyer pays to acquire a company, assets or securities, including the headline payment plus any assumed debt, fees, taxes and contractually required adjustments. It matters to investors because it shows the true cost of a deal and how much value must be realized after the sale — like knowing the full price of a house once you add closing costs, repairs and outstanding mortgage obligations.

net working capital financial

"subject to certain pre- and post-closing adjustments for cash and net working capital"

Net working capital is the amount left when you subtract a company’s short-term bills (like accounts payable and short-term loans) from its short-term assets (cash, money owed to it, and inventory). Think of it as the cash cushion a business has to keep daily operations running — a bigger cushion means fewer short-term funding worries, while a small or negative number can signal pressure to raise cash or cut activity, which matters to investors assessing stability and short-term risk.

forward-looking statements regulatory

"Certain statements in this news release may be deemed to be forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

revolving credit facility financial

"borrowings on the revolving credit facility declined to $45.0 million"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

accelerated filer regulatory

"The filing designates the company as an Accelerated Filer"

An accelerated filer is a public company that meets regulatory size and reporting history thresholds and therefore must meet faster deadlines and stricter disclosure rules for periodic financial reports. For investors, that means financial statements arrive sooner and the company faces higher oversight and expectations for timely, accurate reporting—think of it as being placed in a faster highway lane that also has tighter traffic rules, which can reduce information lag and signal greater regulatory scrutiny.

stock incentive plan financial

"for issuance under the new 2025 Stock Incentive Plan"

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

escrow financial

"About $876,000 of the purchase price was placed into escrow"

A neutral third party holds money, documents, or assets until both sides in a transaction meet agreed conditions, like a safety deposit box that only opens when everyone fulfills the rules. For investors, escrow reduces risk and increases certainty by ensuring payments or shares are released only when contractual steps are completed, which affects deal timing, legal protection, and the likelihood that a transaction will close as planned.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CHATTANOOGA, Tenn., Dec. 2, 2025 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) ("Miller Industries" or the "Company"), the World's Largest Manufacturer of Towing and Recovery Equipment, today announced that it has completed the acquisition of Omars – S.p.A ("Omars"), a designer and manufacturer of towing and recovery vehicles, in an all-cash transaction for an aggregate purchase price of approximately €17.5 million, or $20.3 million, subject to certain pre- and post-closing adjustments for cash and net working capital.

Omars, headquartered in Cuneo, Italy, has over 45 years of experience in manufacturing light-duty, medium-duty and heavy-duty car carriers and recovery vehicles. With a highly complementary product portfolio, this acquisition expands Miller Industries' footprint in the European market with an additional well-recognized European brand, providing opportunities for Miller Industries to increase market share in the region. This acquisition will provide Miller Industries with additional capacity which the Company expects will improve its manufacturing flexibility and its ability to meet growing customer demands. Omars' annual revenue for 2024 was approximately $27 million and the transaction is expected to be accretive in year one.

Chief Executive Officer, William G. Miller II, stated, "This acquisition is a milestone in our plans to expand our footprint in current and new global markets. As we continue to deploy our capital allocation strategy, we remain open to global growth opportunities, while continuing to return capital directly to our shareholders through our quarterly dividend and our share repurchase program. Omars is a strong strategic fit for Miller Industries. With its modern manufacturing facility, strong sales team, and experienced senior staff, we anticipate that the Omars acquisition will provide benefits to both our top-line growth and our profitability."

Mr. Miller II, concluded, "Omars has a reputation of providing its customers with high quality and reliable products across all platforms. The combination of our existing global engineering and manufacturing resources with those of Omars will prove incredibly valuable as we look to expand throughout Europe. We look forward to working with the entire Omars team to provide a world class experience for all of our existing Miller Industries and Omars customers."

Certain statements in this news release may be deemed to be forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "may", "will", "should", "could", "continue", "future", "potential", "believe", "project", "plan", "intend", "seek", "estimate", "predict", "expect", "anticipate" and similar expressions, or the negative of such terms, or other comparable terminology and include without limitation any statements relating to the impact and success of the Company's acquisition of Omars, including statements relating to the Company's top-line growth and profitability, as well as the Company's manufacturing capacity and plans to expand throughout Europe. Forward-looking statements also include the assumptions underlying or relating to any of the foregoing statements. Such forward-looking statements are made based on our management's beliefs as well as assumptions made by, and information currently available to, our management. Our actual results may differ materially from the results anticipated in these forward-looking statements due to, among other things: our dependence upon outside suppliers for component parts, chassis and raw materials, including aluminum, steel, and petroleum-related products leaves us subject to changes in price and availability, the cadence and quantity of deliveries from our suppliers, and delays in receiving supplies of such materials, component parts or chassis; our customers' and towing operators' access to capital and credit to fund purchases; the implementation of new or increased tariffs and any resulting trade wars and any resulting macroeconomic uncertainty; the rising costs of equipment ownership, including continuing increases in insurance premiums and elevated interest rates that have added cost pressures to our end users, and fluctuations in the value of used trucks; macroeconomic trends, availability of financing, and changing interest rates; our customers' ability to fund purchases of our products increases in the cost of skilled labor; the cyclical nature of our industry and changes in consumer confidence and in economic conditions in general; special risks from our sales to U.S. and other governmental entities through prime contractors; changes in fuel and other transportation costs, insurance costs and weather conditions; changes in government regulations, including environmental and health and safety regulations; failure to comply with domestic and foreign anti-corruption laws; competition in our industry and our ability to attract or retain customers; our ability to develop or acquire proprietary products and technology; assertions against us relating to intellectual property rights; changes in the tax regimes and related government policies and regulations in the countries in which we operate; the effects of regulations relating to conflict minerals; the catastrophic loss of one of our manufacturing facilities; environmental and health and safety liabilities and requirements; loss of the services of our key executives; product warranty or product liability claims in excess of our insurance coverage; potential recalls of components or parts manufactured for us by suppliers or potential recalls of defective products; an inability to acquire insurance at commercially reasonable rates; a disruption in, or breach in security of, our information technology systems or any violation of data protection laws; and those other risks discussed in our filings with the Securities and Exchange Commission, including those risks discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q, which discussion is incorporated herein by this reference. Such factors are not exclusive. We do not undertake to update any forward-looking statement that may be made from time to time by, or on behalf of, the Company.

 

View original content:https://www.prnewswire.com/news-releases/miller-industries-announces-acquisition-of-omars-302630432.html

SOURCE Miller Industries, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Miller Industries (MLR) acquire on December 2, 2025?

Miller Industries completed an all-cash acquisition of Omars S.p.A for ~€17.5M (~$20.3M), subject to certain adjustments.

How large was Omars' revenue before the MLR acquisition?

Omars reported approximately $27 million in revenue for 2024.

Will the Omars acquisition affect MLR earnings immediately?

The company stated the transaction is expected to be accretive in year one.

How does the Omars purchase change MLR's European presence?

The acquisition adds a well-recognized European brand, manufacturing capacity, and local sales resources in Italy to expand market share.

Was the Omars deal financed with cash or stock for MLR?

The transaction was an all-cash purchase.

Does the Omars acquisition change MLR's shareholder capital return plans?

Management said it will continue returning capital via its quarterly dividend and existing share repurchase program.