Federal Signal To Acquire Ground Force Worldwide for $45M

by Akanksha Bakshi, Benzinga Editor

September 8, 2021 3:22 PM | 1 min read |

Federal Signal Corp FSS has agreed to acquire all the assets and operations of Ground Force Worldwide (GFW) for cash consideration of $45 million.
The Post Falls, Idaho-based GFW manufactures specialty material handling vehicles that support the extraction of metals. Its current product portfolio includes fuel and lube trucks, water trucks, dump bodies, and rock spreaders.
GFW generated ~$34 million in revenues over the last twelve months.
Federal Signal expects the acquisition to be accretive in the first year.
Federal Signal held cash and cash equivalents were $55 million as of June 30, 2021.
The company anticipates completing the transaction during 4Q21.
Price Action: FSS shares are trading lower by 0.60% at $39.73 on the last check Wednesday.

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