When we found out that Bandit Industries had been sold – well that got our attention.
Everyone in the tree game knows Bandit Industries from mid- Michigan USA, and at a guess most of you would have used one of their machines at some point over the years.
Bandit’s equipment has been in Australia for more than 30 years, and today and every day there are over 2,000 Bandit chippers and grinders in the hands of hard working tree crews around our wide brown land. Recently we found out that Bandit Industries had been sold – here is the whole story.
The big news is that the Bandit owners did not sell the business to one of the large multi-national companies that were keen to buy. In mid-2018, now former owners, Mike Morey Sr., Dianne Morey and Jerry Morey announced their intention to sell the company to their employees. On November 1, 2018, Bandit Industries finalised its transition to become a 100 percent ESOP company (employee stock ownership plan). This is a very positive move that is being celebrated by Bandit employees, dealers and customers all around the world. It ensures the corporate culture that has made Bandit a great success for more than 35 years will remain intact.
The ownership transition won’t impact the day-to-day management of the company as the management team that has been guiding Bandit for the last several years will remain in place under the ESOP. For us folks, on the other side of the pond, this is a great outcome. Bandit’s Australian dealers have been established here for decades and have excellent, long-term relationships with local Bandit owners and operators. This will stay the same; Bandit will still be Bandit.
“We’re all excited to begin this new era in Bandit’s history,” said Felipe Tamayo, Bandit’s General Manager and International Sales Manager. “We will continue to hire additional staff, grow and expand, and gain market share. We’re currently putting the finishing touches on two large building expansions that will increase the capacity and efficiency of our parts departments and our final assembly teams.”
Jamie Morey, Bandit Parts and Service Manager, and granddaughter of Mike and Dianne, says the future is bright for Bandit. “As Bandit moves into the future as an ESOP company, myself and the rest of the management team are excited to keep pioneering and moving forward with the legacy that was left to us all,” she said. “As both a granddaughter and management board member, I couldn’t be more proud of what Mike, Di and Jerry have chosen to do. It’s been a real honor to watch Bandit transform into the amazing company that it is today.”
Former owner, Jerry Morey, said the future of Bandit now belongs to its employees “This is a great opportunity for all of our employees. They’ll all have a share in the business, with a lot of incentive to continue to add to what we’ve already built,” he said. “Bandit’s employees will continue to make this company even stronger, of that I have no doubt.”