Benzinga | Sep 8, 2021 03:22PM EDT

Federal Signal To Acquire Ground Force Worldwide for $45M

* Federal Signal Corp (NYSE: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.