Here's what I pieced together about them. Let me know if I'm wrong, but here's what I pieced together:
Rounder |then -> Prime Mover |then-> Mahto |then-> Lull (Omniquip) Some Mahto's seem to have been labled Lull for rental companies, |then-> Thomas?? renamed? Skat Trak (because Omniquip wanted to match the 'Sky Trak' name, |now-> Volvo. If you look at the Mahto and Lull L1200 and L1300's they look like the Rounders and share the same naming convention as well.
What I'm not sure about (and could be wrong about) is where the purchase of Mahto and Skat lineages intersect, maybe it was Thomas. It's clear the Lull rentals are the same as the Mahto/Prime Mover/Rounder, but more research needs to be done to determine if they phased out Mahto and it was Thomas or another. But it's interesting nonetheless.
Here is an excerpt from the original Omniquip registration with the securities and exchange commission OCTOBER 1, 1996, which you can google on the internet:
11. ACQUISITION OF MAHTO INDUSTRIES, INC.
In April 1995, the Company purchased the inventory and production equipment of Mahto Industries, Inc., a manufacturer of light-duty construction equipment for $500. The acquisition has been accounted for as a purchase, and results of operations since the date of acquisition are included in the statement of income. The fair value of the net assets acquired exceeded the purchase price by approximately $200, which was applied to reduce the carrying value of the production equipment. The pro forma impact of this acquisition on the Company's operating results was immaterial.
Elsewhere it reads:
(1) The Company was organized in August 1995 for the purpose of acquiring TRAK, the predecessor company.
(2) Amounts give effect to the pro forma transactions described under "Pro Forma Financial Information," including the footnotes thereto.
(3) In the quarter ended December 31, 1995, Lull determined that a specific warranty obligation had been incurred on certain boom units manufactured and recorded a pre-tax charge to operations of $2,881.
(4) In October 1992, TRAK adopted Statement of Financial Accounting Standards, No. 109, "Accounting for Income Taxes" (SFAS 109). The cumulative effect of adopting SFAS 109 was to record a net tax benefit of $199.
(5) In October 1994, TRAK adopted Statement of Financial Accounting Standards, No. 106, "Employer's Accounting for Postretirement Benefits Other Than Pensions" (SFAS 106). The cumulative effect of adopting SFAS 106 was to record a charge of $241, net of income tax benefits.
(6) Given the historical organization and capital structure of TRAK, as predecessor to the Company, earnings per share information is not considered meaningful for the predecessor.
Here's More:
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
OVERVIEW
The Company was formed for the purpose of acquiring TRAK in August 1995. Subsequent thereto, the Company completed the acquisition of the business of Lull in August 1996. Set forth below is certain information with respect to the TRAK and Lull acquisitions:
DATE OF
ACQUISITION ACQUISITION BUSINESS YEAR FOUNDED
- --------------------------------------- ----------------- --------------------------------------- ---------------
TRAK................................... August 1995 Manufacturer of telescopic material 1954
handlers and skid steer loaders
Lull................................... August 1996 Manufacturer of telescopic material 1956
handlers
The Company is accounting for each of these acquisitions under the purchase method of accounting, with the purchase price allocated to the estimated fair market value of the assets acquired and the liabilities assumed. The excess of the purchase price over the estimated fair value of the net assets acquired is being allocated to goodwill, resulting in approximately $65.5 million of goodwill on a pro forma basis at June 30, 1996. The amortization of such goodwill over 40 years will result in an annual noncash charge to future operations of approximately $1.6 million. The basis of presentation relating to the following discussion of the statements of operations of the Company and of TRAK ("Predecessor") does not reflect such increased amortization expense, as the full-year effect of the acquisition of TRAK and the acquisition of Lull are not reflected therein. See "Management's Discussion and Analysis of Pro Forma Results of Operations and Financial Condition" for further discussion.
The Company operates in a single industry segment. The Company's principal products consist of material handling and construction equipment utilizing engines of less than 130 horsepower. In addition to specific factors affecting the Company's results of operations as discussed below, certain factors typically recur from period to period. For example, cost of sales is driven to a large extent by the cost of purchased components and raw materials, which typically comprise 80% of the total cost of sales. Other factors affecting cost of sales are production volume and the resultant leveraging of fixed overhead, as well as productivity of the labor force. In addition, selling, general and administrative ("SG&A") expenses include costs related to developing, marketing and selling the Company's products, as well as infrastructure costs for management and systems. While certain SG&A costs vary with the level of net sales, many are relatively fixed over fairly wide ranges of unit volume. It is the Company's strategy to invest in infrastructure costs, in many cases in advance of increased sales.
The Company sells its products to independent equipment dealers for sale and rental and to national rental centers for rental. The Company offers its independent equipment dealers conventional floor-plan and rental fleet financing to assist in the purchase of its products. Under such financing arrangements, dealers borrow money from independent lenders on a secured basis for up to five years. The Company assists with such financing by providing the independent lenders additional guarantees or other financial support with respect to the obligations of its dealers. In conjunction with these floor-plan arrangements, the Company also provides certain financing benefits to its dealers to support both retail and rental purchases. Such costs are accounted for as other finance charges and approximated $1.5 million for the Company for the nine months ended June 30, 1996 and $1.6 million for the Company and its Predecessor on a combined basis for the twelve months ended September 30, 1995. See "--Capital Resources and Liquidity."