CH-Frauenfeld, December 16, 2021 – Aebi Schmidt Group, a global leader of intelligent solutions for the
treatment of mission critical infrastructure areas and demanding terrain, has completed its recently
announced acquisition of Monroe Truck Equipment from Industrial Opportunity Partners following receipt
of regulatory approval.

Wisconsin, U.S.-based Monroe is an industry-leading truck and trailer equipment
platform with around USD 270 million (approx. EUR 240 million) in annual
revenue. As a result of the transaction, the combined revenue base for Aebi
Schmidt thus reaches around EUR 750 million, and the Group expects the
acquisition to be accretive to profitability from 2022. The addition of Monroe will
significantly strengthen Aebi Schmidt’s market position in the U.S. and globally.

Peter Spuhler, Chairman of Aebi Schmidt Group, said: “We are extremely pleased about the acquisition of
Monroe, which provides us with a significantly enhanced basis for further growth. Monroe is a fantastic
brand and will strengthen our important winter business in particular. At the same time, we will benefit from
their state-of-the-art upfitting centers and nationwide distribution network, which will give us unparalleled
access to services, solutions and cross-selling opportunities with new and existing customers.”

Aebi Schmidt will take over all of Monroe’s more than 900 employees, resulting in a total of around 3,000
staff for the Group. Monroe will continue to be run by its current management.