M&A - MILLER INDUSTRIES INC /TN/

Form Type: 10-K

Filing Date: 2025-03-05

Corporate Action: Acquisition

Type: New

Accession Number: 000155837025002276

Filing Summary: Miller Industries, Inc., the largest manufacturer of towing and recovery equipment, reports its fiscal year 2024 results in this 10-K filing. The company has made significant progress in enhancing its product portfolio, particularly through the recent acquisition of Southern Hydraulic Cylinder, Inc., which strengthens its supply chain. Miller operates multiple manufacturing facilities worldwide, employing advanced technologies in production. The company focuses on innovation, planning to launch new products in fiscal year 2025. A diverse network of around 76 distributors in North America and over 30 in other markets supports the sales of their products, ensuring a broad reach. Financial highlights include capital additions and an aggregate market value of voting stock held by non-affiliates of approximately $604.3 million as of June 30, 2024. Management is optimistic about future prospects and continued growth, citing strong relationships with distributors and a commitment to pursuing further acquisitions.