Heavy Equipment

Fayat Group Buys LeeBoy for $290M in Growth Push

The deal will strengthen Fayat’s presence in North American roadbuilding.

Updated on

September 6, 2025

Fayat Group, the French construction equipment giant behind BOMAG and Dynapac, has acquired US road equipment maker LeeBoy for $290 million in its second major deal this year.

LeeBoy is now part of Fayat’s Road Equipment Division alongside existing brands BOMAG and Dynapac, making it the third asphalt paver brand under the French group’s control.

The deal strengthens Fayat’s foothold in the North American roadbuilding market.

LeeBoy is best known for its asphalt pavers, compact motor graders and road maintenance machinery, catering primarily to asphalt professionals in the United States.

“This acquisition strengthens our position in the North American market,” Fayat said in an earlier statement, adding that it intends to keep LeeBoy operating as an independent brand.

The group also pointed to opportunities for “collaboration in manufacturing, R&D, and support services” following the purchase.

Founded in Lincolnton, South Carolina — where it continues to base its headquarters and manufacturing operations — LeeBoy has a network of over 300 dealer locations across North America. Its product line also includes plate compactors, rollers, and road wideners.

In October 2024, the company re-entered the compaction equipment segment with the SR48 single-drum soil roller, BR36 vibratory asphalt roller, and BR48 asphalt roller.

Prior to the acquisition, LeeBoy was owned by Singapore Technologies Engineering (ST Engineering), which bought the business in 2006 for $129 million — equivalent to about $204 million today when adjusted for inflation.

According to ST’s financial disclosures, LeeBoy’s stock was valued at $157 million at the end of 2024, with the company generating $255 million in revenue last year and earnings of around $29 million before tax and interest.

Fayat’s agreed purchase price values LeeBoy at 9.3 times its earnings before interest, tax, depreciation, and amortization. The deal follows Fayat’s acquisition of fellow French manufacturer Mecalac earlier this year, expanding its production footprint to 29 sites worldwide.

Industry observers note that bringing LeeBoy into the fold will widen Fayat’s base in a market experiencing consolidation and increasing demand for specialised, technology-driven machinery.

Now that the deal is complete, both firms will continue to operate independently, with Fayat promising “continuity in products and service, with the potential for expanded capabilities”.