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27
Oct
Ripon firm sold to US giant for £120 million
One of Ripon’s largest companies has been sold to an American firm for £120 million.
Econ Engineering, which employs 251 staff, announced the “momentous” news this evening (October 27) that it had been acquired by Alamo Group, which is listed on the New York Stock Exchange.
Econ, best known for its gritters, was founded by Bill Lupton in 1969 and had remained under the ownership of the Lupton family until now.
Managing director Jonathan Lupton said:
We are pleased to join Alamo Group and believe the combination provides an excellent foundation for the continued development of Econ. Alamo Group understands specialty equipment businesses and the importance of product quality, service and long-term customer relationships.
Jonathan Lupton
Profit up 30%
Econ’s latest accounts revealed turnover increased by 11% to £58.3 million in the year to March 2025. Pre-tax profit went up by 30% to £15 million.
Despite its growth, Econ’s size is dwarfed by Alamo Group, which manufactures machinery used to maintain roads and farms.
The Texan company, which was also founded in 1969, reported net sales of $1.6 billion in 2025
Chief executive Robert Hureau said:
Econ is a strong addition to Alamo Group and advances our strategy to expand our industrial equipment portfolio. Its leading market position, differentiated products, strong customer service capabilities, attractive financial profile, and resilient end-markets make Econ a great fit with our portfolio of industrial businesses. Econ also gives us a stronger platform in the UK and creates opportunities for long-term growth.
Beyond the initial synergies we expect from bringing Econ onto Alamo Group's platform, we see significant room to grow the business both within and beyond its core market. We want to welcome all the Econ Engineering team members to our family and are excited about our future together.
Econ will become part of Alamo’s industrial equipment division.
Econ said on social media:
It’s a momentous day in the long history of Econ Engineering.
Alamo Group recognises the strength of the Econ brand, shares our commitment to customers and has a proven track record of investing in specialist infrastructure equipment businesses.
The transaction provides a strong platform for future growth, ongoing innovation and continued investment in products, operations and people, while preserving the strengths that have made Econ successful for almost 60 years.
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