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Subsequent Events
12 Months Ended
Dec. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
On February 24, 2014 the Company announced that it has entered into an agreement to acquire the operating units of Specialized Industries, LP. This includes the businesses of Super Products LLC, Wausau-Everest LP and Howard P. Fairfield LLC. Super Products is a manufacturer of vacuum trucks and related equipment, parts and service, which is complementary to Alamo’s VacAll operation. Wausau-Everest is a manufacturer of snow removal equipment which is complementary to Alamo’s Tenco and Henke operations. And, Howard P. Fairfield is a dealer/distribution operation primarily in the New England area. Together the three operations had net sales of approximately $139 million in the fiscal year ending December 31, 2013. Total consideration for the purchase is approximately $186 million, subject to certain adjustments. The purchase is anticipated to close within 45 days and is subject to receiving regulatory approval and completion of other pre-closing requirements.

In anticipation of this acquisition, the Company is expanding its revolving credit facility and increasing its line of credit from $100 million to $250 million to meet the ongoing needs of the combined entities.

The Company has entered into a contract to sell the SMC plant for $900,000 and anticipates a gain on the sale of the facility which is expected to close in the second quarter of 2014.