Federal Signal Corporation announced the completion of the acquisition of OSW Equipment and Repair for cash consideration of $52.5 million.
OSW is a manufacturer of dump truck bodies and custom upfitter of truck equipment and trailers, and is headquartered in Snohomish, Was., with an upfitting location in Tempe, Ariz. The acquisition also includes the operations of Northend Truck Equipment (NTE), which are co-located with OSW, and Western Truck Body (WTB), based in Edmonton, Canada. Both NTE and WTB are wholly owned subsidiaries of OSW.
“Since acquiring TBEI, the geographic expansion of our existing platform of market-leading dump bodies and trailers has been a strategic objective,” says Federal Signal President and CEO Jennifer L. Sherman. “The acquisition of OSW represents a highly strategic transaction, adding three premier brands that serve attractive infrastructure, construction and other industrial end-markets on the West Coast, in Arizona and in parts of Canada.”
TBEI Vice President and General Manager Robert E. Fines says, “I have been a long-time admirer of OSW and the strength of its brands. The acquisition provides considerable opportunity for long-term value creation through operational improvement initiatives, organic growth and additional acquisitions.”