Huron Capital Partners ("Huron Capital") and Bandit Industries announced today that they have entered into a letter of intent to recapitalize Bandit as a private company, and to provide resources and capital to reinforce Bandit's continued record growth while accelerating the company's global growth strategy.

Bandit Industries announced that it has entered into a letter of intent with Alamo Group Inc. (NYSE:ALG) pursuant to which Alamo Group would acquire Bandit Industries. The acquisition contemplated by the letter of intent has received regulatory approval under the Hart Scott Rodino Act. Consummation of the acquisition is subject to certain other pre-closing requirements. The acquisition of Bandit by Alamo would allow Bandit Industries to better capitalize on the rapid growth the company has experienced in the last three years while also preserving the Bandit legacy built over the last 30 years.

Bandit Industries is pleased to welcome Atlas Bobcat as the newest Bandit authorized dealer. Atlas Bobcat is a full service dealer with five locations, serving Bandit customers in Chicago as well as all of northern Illinois and extreme northwest Indiana.