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The Shyft Group, Inc. (NASDAQ: SHYF) is a leader in specialty vehicle manufacturing and upfit solutions for commercial and service markets. This page provides investors and industry professionals with direct access to the company's official news updates, including press releases, strategic initiatives, and operational developments.
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The Shyft Group (NASDAQ: SHYF), a North American specialty vehicle manufacturing leader, has completed its merger with Aebi Schmidt Holding AG, a global provider of infrastructure, environmental, and agricultural solutions. Following the transaction completion on July 1, 2025, Shyft's common stock has been delisted from NASDAQ.
Aebi Schmidt Group began trading on NASDAQ under the temporary ticker "AEBIV" on July 1, 2025, and will commence regular-way trading under the ticker symbol "AEBI" on July 2, 2025. Shyft will file necessary documentation with the SEC to formally delist and suspend its reporting obligations.
The Shyft Group (NASDAQ: SHYF) has successfully completed its merger with Aebi Schmidt Holding AG, creating a global leader in specialty vehicles. The combined entity will operate as Aebi Schmidt Group and begin trading on NASDAQ under the ticker symbol "AEBIV" for when-issued trading on July 1, 2025, followed by regular-way trading under "AEBI" on July 2, 2025.
The merger unites two organizations with complementary strengths - Shyft's North American leadership in specialty vehicle manufacturing and Aebi Schmidt's global expertise in mission-critical infrastructure, environmental, and agricultural solutions. The combined company aims to leverage expanded geographical reach across North America and Europe, complementary product portfolios, and enhanced operational capabilities.
As part of the transaction, Shyft's common stock will be delisted from NASDAQ. The newly formed Aebi Schmidt Group will be led by Barend Fruithof as Group Chief Executive Officer and James Sharman as Chairman of the Board.
The Shyft Group (NASDAQ: SHYF) announced two key developments regarding its proposed merger with Aebi Schmidt Group: the SEC's effectiveness declaration of Aebi Schmidt's Form S-4 registration statement and Shyft's filing of a definitive proxy statement. The merger vote is scheduled for June 17, 2025, with shareholders of record as of May 13, 2025, eligible to participate. The combined entity will operate as Aebi Schmidt Group and trade under "AEBI" on NASDAQ.
Pro forma financial results for 2024 show the combined business generating approximately $1.9 billion in revenue and $148 million in adjusted EBITDA. The transaction is expected to close in mid-2025, subject to shareholder approval and customary closing conditions.
The Shyft Group (NASDAQ: SHYF) has announced a special shareholders meeting scheduled for June 17, 2025, to vote on the proposed merger with Aebi Schmidt Holdings, AG. The meeting will allow shareholders of record as of May 13, 2025, to consider and vote on the merger agreement, which involves merging an indirect, wholly owned subsidiary of Aebi Schmidt with Shyft. The Shyft Group is recognized as North America's leader in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service specialty vehicle markets.
Spartan RV Chassis, a brand of The Shyft Group (NASDAQ: SHYF), has announced a strategic partnership with Rush Truck Centers, North America's largest commercial vehicle dealership network. The collaboration adds 148 Rush Truck Centers service locations across the U.S. and Canada to Spartan's authorized service network, significantly expanding maintenance and repair capabilities for motorhome owners.
Select locations will provide chassis alignment services for Class A motorhomes. The partnership is supported by Spartan's comprehensive warranty program, which includes a 20-year transferable warranty on frame and cross members, a 5-year/100,000-mile Cummins engine warranty, and a 5-year/200,000-mile Allison transmission warranty. Owners can locate service centers through the Spartan RV Chassis Connected Care® App or website.
The Shyft Group (NASDAQ: SHYF), North America's leader in specialty vehicle manufacturing, has declared a quarterly cash dividend. The Board of Directors has authorized a dividend payment of $0.05 per share of common stock.
Shareholders of record as of the market close on May 16, 2025, will receive the dividend payment on June 16, 2025. The Michigan-based company specializes in manufacturing, assembly, and upfit services for commercial, retail, and service specialty vehicle markets.
The Shyft Group (NASDAQ: SHYF) reported Q1 2025 financial results showing improved performance. Sales increased 3.4% year-over-year to $204.6 million. The company reduced its net loss to $1.4 million (($0.04) per share) from $4.7 million (($0.14) per share) in Q1 2024.
Key highlights include:
- Adjusted EBITDA of $12.3 million (6.0% of sales), up from $6.1 million
- Adjusted net income of $2.4 million ($0.07 per share)
- Consolidated backlog of $335.3 million, down 23.7% YoY but up 7.1% from year-end
- Blue Arc sales of $26.3 million
The company maintained its full-year 2025 guidance:
- Sales: $870-970 million
- Adjusted EBITDA: $62-72 million
- Adjusted EPS: $0.69-0.92
- Free cash flow: $25-30 million
The Shyft Group (NASDAQ: SHYF), North America's leader in specialty vehicle manufacturing and upfit for ecommerce parcel delivery and commercial markets, has scheduled its first quarter 2025 financial results announcement for Thursday, April 24, 2025, before market opening.
The company will host a conference call and webcast at 8:30 A.M. Eastern Time. Investors can access the listen-only presentation and supporting materials through the company's investor relations website. The conference call will be available via telephone at 1-844-868-8845 (Domestic) or 1-412-317-6591 (International).
Vantage Mobility, a leading wheelchair accessible vehicle (WAV) manufacturer, has appointed Daryl Adams as Chief Executive Officer. Adams brings over 35 years of automotive industry leadership experience to the role.
Adams most recently served as President and CEO of The Shyft Group (NASDAQ: SHYF), where he doubled company earnings and led new product development. His previous roles include CEO of Midway Products Group and Vice President of Global Engineering and R&D at Lear He is also the Founder and President of Ripple Effect Leadership.
Vantage Mobility, based in Phoenix, specializes in manufacturing WAVs built on Toyota, Honda, and Stellantis chassis. The company has received Toyota's Gold Certificate for Quality for the past 2+ years and employs Six Sigma techniques in its manufacturing processes.