Federal Signal agrees to acquire Joe Johnson Equipment

• Federal Signal (NYSE:FSS) is acquiring substantially all of the assets and operations of Joe Johnson Equipment, a Canadian-based distributor of maintenance equipment for municipal and industrial markets, for initial consideration of C$108M.
• In addition, there is a deferred payment of C$8M and a contingent earn-out payment of up to C$10M.
• The company is also in discussions regarding potential acquisition of JJE's interests in Chile, which is not expected to be material.