OAK BROOK, Illinois, June 2, 2017 — Federal Signal Corporation (NYSE:FSS) (“the Company”), a leader in environmental and safety solutions, today announced that it has completed the acquisition of Truck Bodies and Equipment International (“TBEI”), a leading U.S. manufacturer of dump truck bodies and trailers, for a purchase price of $270 million, subject to customary closing adjustments. Signing of the purchase agreement was previously announced on May 8, 2017.
Federal Signal to expand focus on maintenance and infrastructure categories, leverage manufacturing expertise and diversify end-markets
• Total orders of $215 million, up $79 million, or 58%, compared to last year and up $49 million, or 30%, compared to the fourth quarter of 2016
• Net sales of $178 million, up 3% compared to last year
• GAAP earnings per share of $0.12 for the quarter
• Adjusted earnings per share of $0.14 for the quarter
• Operating cash flow up $20.4 million compared to last year