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Federal Signal acquire Truck Bodies and Equipment International

May 08, 2017 7:13 AM ETFederal Signal Corporation (FSS) StockBy: Clark Schultz, SA News Editor
  • Federal Signal (NYSE:FSS) acquires Truck Bodies and Equipment International for $270M.
  • The company says the deal price represents a multiple of 7.2X Truck Bodies' EBITDA for the twelve-month period ending March 31.
  • The transaction is expected to be immediately accretive to margins and earnings per share, excluding transaction costs and before giving effect to anticipated synergies. Annual run-rate synergies are anticipated to be between $3-4M, phased in over three years.
  • "The TBEI business is a strong strategic fit with our ESG businesses and allows us to broaden our focus on maintenance and infrastructure markets. With its large industrial customer base, TBEI will accelerate the achievement of our long-standing objective of balancing the mix of revenue streams between municipal and industrial,"   says CEO Jennifer Sherman.
  • Source: Press Release

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