FSS - Federal Signal to acquire assets of Ground Force Worldwide for $45M cash

Federal Signal (NYSE:FSS) to acquire substantially all the assets and operations of Ground Force Worldwide for cash consideration of $45M. GFW also supports the recurring aftermarket needs of its customers through parts and service offerings. Over the last twelve months, GFW generated revenues of approximately $34M, with an EBITDA margin within the company's group target range. Company anticipates completing the transaction during the Q4 2021 and expects the acquisition to be accretive in the first year. "The acquisition augments our current materials hauling portfolio by adding a range of specialty vehicles that support the extraction of metals, demand for which is expected to benefit from vehicle electrification and other green initiatives. The transaction provides opportunity for long-term value creation through operational improvement and organic growth initiatives, while also providing a platform for further acquisitions in this space. We are thrilled to welcome Ground Force's talented team members to the Federal Signal family."

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Federal Signal to acquire assets of Ground Force Worldwide for $45M cash