In these times when you never know what brand of equipment might be disappearing when the next email arrives, here’s a name that former and new owners claim will be around for a long time - Apache. The self-propelled sprayer, produced in Mooresville, Ind., has been made by Equipment Technologies, LLC. Apache sprayers will still be made in Mooresville, and still by ET. The only difference is that ET is now 100% owned by someone else.
The new owner is Exel Industries, which is based in Paris, France. Information provided by Exel says the company is the world leader in ag sprayers, and the European leader in consumer watering equipment. It is also the world leader in producing sugar beet harvesters. Exel employs 3,650 people in 29 countries on five continents.
ET, based in Mooresville, Ind., makes only Apache sprayers. They have also marketed their brand in Ukraine and Australia. The company has a large dealer and service network, and expanded its capability for parts supply and dealer training at its’ Mooresville location within the past decade.
In a news release, ET reported revenues of $90 million in 2015, down from a peak of $140 million annual revenues that occurred before the downturn in the ag economy.
ET employs 170 people.
Matt Hays, CEO of ET, says the deal will allow the company to continue operating as Equipment Technologies. The current management team at Mooresville will be maintained, along with the current workforce and dealer network.
At the 2015 Farm Progress Show in Decatur, Illinois, Hays hosted Indiana Lt. Governor Sue Ellspermann in the Apache display. She was visiting Indiana companies.
Hays says the deal strengthens their dealer network potential around the world. Exel spokesmen say this purchase gives them a large presence in the ag equipment market in the U.S.
Editor's note: Exel Industries contributed to this story.