Core Viewpoint - Miller Industries, Inc. has completed the acquisition of Omars – S.p.A for approximately €17.5 million ($20.3 million), enhancing its presence in the European market and expanding its product portfolio [1][2]. Acquisition Details - The acquisition is an all-cash transaction with a purchase price of about €17.5 million, subject to adjustments for cash and net working capital [1]. - Omars, based in Cuneo, Italy, has over 45 years of experience in manufacturing various types of towing and recovery vehicles [2]. Strategic Implications - This acquisition allows Miller Industries to increase its market share in Europe and provides additional manufacturing capacity, which is expected to improve flexibility and meet growing customer demands [2]. - Omars reported annual revenue of approximately $27 million for 2024, and the transaction is anticipated to be accretive in the first year [2]. Leadership Insights - CEO William G. Miller II emphasized that the acquisition is a significant step in expanding the company's global footprint and aligns with its capital allocation strategy [3]. - The combination of Miller Industries' resources with Omars' capabilities is expected to enhance top-line growth and profitability [3].