Federal Signal has completed its acquisition of Truck Bodies and Equipment International, a manufacturer of dump bodies and trailers, for a purchase price of $270 million.
TBEI represents a portfolio of six established brands: Travis Trailer & Body Company, Crysteel, Ox Bodies, Rugby Manufacturing, DuraClass, and J-Craft. TBEI will be combined with the businesses in Federal Signal’s Environmental Solutions Group to create a single platform offering municipal and industrial customers a suite of maintenance and infrastructure equipment support.
In a release earlier this month, Federal Signal stated that as part of the deal, TBEI’s president and CEO Robert Fines will be joining the company’s management team.
“Their product offerings will allow us to further diversify into higher growth, maintenance and infrastructure markets while balancing the mix of revenue streams between municipal and industrial, and reduce our exposure to oil and gas,” said Jennifer L. Sherman, Federal Signal’s president and CEO. “This acquisition represents a strong strategic fit for Federal Signal and will enhance our ability to achieve sustainable and profitable growth.”