07:16 AM EDT, 07/22/2024 (MT Newswires) -- Terex ( TEX ) said Monday that it has signed a definitive agreement to acquire Environmental Solutions Group from Dover Corporation ( DOV ) in a $2 billion all-cash transaction.

ESG designs and manufactures refuse collection vehicles, waste compaction equipment, and associated parts and digital solutions.

The company expects the transaction to close before year-end 2024 and be double-digit percentage adjusted EPS accretive in 2025.

Terex ( TEX ) said it has obtained fully committed debt financing from UBS Investment Bank and expects to fund the transaction with a combination of cash on hand and debt financing.