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Enterprise Off-Highway Vehicle Manufacturers sector

Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for Enterprise Off-Highway Vehicle Manufacturers

1.1 - About Enterprise Off-Highway Vehicle Manufacturers sector

Companies in the Enterprise Off-Highway Vehicle Manufacturers category design and build heavy-duty off-road equipment and vehicles used in construction, agriculture, mining, and forestry. They deliver engineered platforms, integrated powertrains, and productivity-enhancing technologies that withstand demanding environments. Value comes from reliable performance, purpose-built configurations, attachment ecosystems, and lifecycle support through dealer networks, parts, and service, helping operators reduce downtime and total cost of ownership across rugged applications.

Typical offerings span the design and manufacture of excavators, wheel loaders, skid-steers, tractors, combines, and UTVs/ATVs, each integrating high-torque powertrains, hydraulic systems, and rugged chassis engineered for severe duty. Vendors provide telematics and fleet management, operator safety and assist technologies, and emissions-compliant diesel, hybrid, or electric drivetrains. They support productivity with attachment ecosystems, implements, and specialized work tools, alongside parts distribution, field service, remanufacturing, and dealer-enabled lifecycle management.

Primary customers include construction contractors and rental fleets, agricultural producers, and mining and forestry operators. Outcomes center on higher equipment utilization, faster cycle times, and lower fuel burn and emissions through optimized drivetrains and telematics. Buyers also realize reduced unplanned downtime via predictive maintenance and stronger safety compliance with operator-assist features, contributing to improved return on invested capital and more predictable asset lifecycle costs.

2. Buyers in the Enterprise Off-Highway Vehicle Manufacturers sector

2.1 Top strategic acquirers of Enterprise Off-Highway Vehicle Manufacturers companies

Polaris Logo

Polaris

HQ: United Kingdom Website
  • Description: Provider of off-road all-terrain and side-by-side vehicles—including Polaris XPEDITION, GENERAL, RANGER, RZR and Sportsman—plus related parts, accessories, financing, insurance and shopping tools that help consumers purchase, customize and protect their Polaris vehicles.
  • Key Products:
  • Snowmobiles (Indy
  • Rush series): Front-engine sleds with independent front suspension and advanced Rush rear suspension, engineered for improved trail handling, mountain performance and competitive racing in deep snow conditions
  • Ranger Side-by-Side ATVs: Utility vehicles assembled on dedicated global lines, offering payload beds and multi-passenger seating for work and recreation across rugged off-road terrain
  • Indian Motorcycles & Slingshot: Heavyweight cruisers and three-wheel roadsters built in Spirit Lake, featuring American-made powertrains for highway touring and performance riding
  • DAGOR Ultra-Light Tactical Vehicle: Purpose-built off-road military truck carrying nine personnel, over 1,400 kg payload, air-droppable and sling-loadable, using commercial turbo-diesel/JP8 powertrain for high-speed mobility.
  • Company type: Private company
  • Employees: ●●●●●
  • Total funding raised: $●●●m
  • Backers: ●●●●●●●●●●
  • Acquisitions: ●●
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2.2 - Strategic buyer groups for Enterprise Off-Highway Vehicle Manufacturers sector

Description: Companies in the Heavy Construction Equipment Solutions category design, manufacture, distribute, rent, and service machinery for building and infrastructure projects. Offerings span earthmoving, lifting, concrete, compaction, road-building, and power systems, supported by telematics and robust aftermarket programs. Customers gain productivity, safety, and cost efficiency through reliable fleets, data-driven fleet management, financing options, and planned maintenance from strategic buyers focused on construction equipment and machinery.
John Deere

John Deere

Website HQ: United States
  • Type: N/A
  • Employees: ●●●●●
  • Description: Provider of genuine John Deere parts, maintenance components, repair parts, workshop equipment and branded merchandise through an online store, enabling owners of John Deere agricultural, construction, lawn and garden equipment to quickly source everything needed to maintain, repair and personalize their machinery.
  • Key Products:
  • Maintenance & Wear Components: Online catalog of batteries, filters, belts, fluids, lights, tires and other wear parts enabling owners to perform routine maintenance and extend equipment life
  • Repair Parts: Selection of brake, engine, drivetrain, hydraulic, steering and electrical components designed for direct replacement of damaged John Deere machinery parts to restore full functionality
  • Merchandise & Apparel: Branded men's, women's and kids' clothing, hats, home décor and accessories allowing fans and operators to represent the John Deere identity off-equipment
  • Workshop Equipment & Tools: Air compressors, pressure washers, generators, hand tools, shop supplies and Operations Center PRO Service equip workshops to service equipment, boost uptime and streamline repairs.
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Key Products: ████████, ████████, ████████, ████████
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Buyer group 3: ████████ ████████

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Key Products: ████████, ████████, ████████, ████████
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3. Investors and private equity firms in Enterprise Off-Highway Vehicle Manufacturers sector

3.1 - Buyout funds in the Enterprise Off-Highway Vehicle Manufacturers sector

Buyout Funds investing in Enterprise Off-Highway Vehicle Manufacturers companies

51+ funds
Description: Buyout funds focused on Enterprise Off-Highway Vehicle Manufacturers companies globally.

EQT

Website HQ: Sweden
  • Type: Buyout
  • Fund Size: $●●●m
  • Investment Range: $●●-●●●m
  • Focus: Technology companies in Enterprise Off-Highway Vehicle Manufacturers
  • Relevant M&A transactions / similar portfolio companies:
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2.2 - Strategic buyer groups for Enterprise Off-Highway Vehicle Manufacturers sector

Growth Equity Funds in Enterprise Off-Highway Vehicle Manufacturers companies

41+ funds
Description: Growth equity funds focused on Enterprise Off-Highway Vehicle Manufacturers companies globally.

Ardian

Website HQ: France
  • Type: Growth
  • Fund Size: $●●●m
  • Investment Range: $●●-●●●m
  • Focus: High-growth companies in Enterprise Off-Highway Vehicle Manufacturers
  • Relevant investments / similar portfolio companies:
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4 - Top valuation comps for Enterprise Off-Highway Vehicle Manufacturers companies

4.2 - Public trading comparable groups for Enterprise Off-Highway Vehicle Manufacturers sector

Description: Companies in this public trading comparables group design, manufacture, and service heavy construction and industrial equipment, powertrains, and process technologies. They share similar OEM business models with global distribution and installed bases driving recurring aftermarket revenue. Grouped together for valuation benchmarks due to comparable exposure to construction, mining, and infrastructure cycles, capital intensity, and revenue mix between new equipment, engines, and services.
Volvo Group logo

Volvo Group

  • Enterprise value: $●●●m
  • Market Cap: $●●●m
  • EV/Revenue: ●.●x
  • EV/EBITDA: ●●.●x
  • Description: Provider of transport and infrastructure solutions, manufacturing trucks, buses, construction equipment, and marine and industrial engines, while offering financing and services to enhance customer productivity and uptime.
  • Key Products:
  • Trucks: Heavy-duty trucks for long-haul, regional, and local distribution
  • Buses: Public transit and coach buses for urban and intercity transportation
  • Construction equipment: Machinery for construction, mining, and infrastructure projects
  • Marine engines: Power solutions for commercial and pleasure boats
  • Financial services: Financing and insurance solutions tailored for commercial vehicles and equipment.
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Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
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4.3 - M&A Transactions in the Enterprise Off-Highway Vehicle Manufacturers sector

Selected M&A transactions

Date Target Description Buyer(s) Relevance EV EV/Revenue EV/EBITDA
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Frequently Asked Questions

Buyers & Acquirers in Enterprise Off-Highway Vehicle Manufacturers sector

Who are the top strategic acquirers of Enterprise Off-Highway Vehicle Manufacturers companies?

Top strategic buyers in this sector include Polaris, a provider of off-road all-terrain and side-by-side vehicles—including polaris xpedition, general, ranger, rzr and sportsman—plus related parts, accessories, financing, insurance and shopping tools that help consumers purchase, customize and protect their polaris vehicles. .

Which buyer groups are most relevant for Enterprise Off-Highway Vehicle Manufacturers companies?

Relevant strategic buyer groups similar to the Enterprise Off-Highway Vehicle Manufacturers sector include Construction Equipment and Machinery because they share similar customer segments and product capabilities.

Financial Investors in Enterprise Off-Highway Vehicle Manufacturers sector

Which are the top PE firms investing in Enterprise Off-Highway Vehicle Manufacturers companies?

Potential investors in the broader Enterprise Off-Highway Vehicle Manufacturers space include Ardian and EQT.

Who are the top buyout funds acquiring Enterprise Off-Highway Vehicle Manufacturers companies?

Active PE funds and buyout funds acquiring companies in the Enterprise Off-Highway Vehicle Manufacturers space include EQT.

Who are the top growth equity funds investing in Enterprise Off-Highway Vehicle Manufacturers companies?

Growth funds investing in the broader Enterprise Off-Highway Vehicle Manufacturers sector include Ardian.

Valuation of Companies in Enterprise Off-Highway Vehicle Manufacturers sector

Which are the key public companies that are relevant trading comps for Enterprise Off-Highway Vehicle Manufacturers companies?

Key trading comparable groups include Volvo Group, a provider of transport and infrastructure solutions, manufacturing trucks, buses, construction equipment, and marine and industrial engines, while offering financing and services to enhance customer productivity and uptime..

Which are the key trading comparable groups for Enterprise Off-Highway Vehicle Manufacturers companies?

Similar trading comparable companies include Industrial and Construction Equipment Manufacturers. Our platform tracks detailed trading comparable groups in the Enterprise Off-Highway Vehicle Manufacturers sector with complete valuation multiples, growth metrics, and profitability data. Access the full database to benchmark your company against relevant public comparables.

What are recent M&A transactions in the Enterprise Off-Highway Vehicle Manufacturers sector?

Our platform tracks M&A transactions in the Enterprise Off-Highway Vehicle Manufacturers sector with complete deal terms, valuation multiples, and strategic rationale. Access the full database to benchmark pricing and identify active acquirers.

What are recent capital raises and funding rounds in Enterprise Off-Highway Vehicle Manufacturers?

Access recent funding rounds in the Enterprise Off-Highway Vehicle Manufacturers sector including growth equity, venture capital, and buyout investments. Our database includes round size, lead investors, valuations, and use of proceeds.

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