Federal Signal acquiring TBEI
OAK BROOKS, IL - Federal Signal Corporation is acquiring Truck Bodies and Equipment International (TBEI) - a maker of dump truck bodies and trailers -- for US $270 million. TBEI runs five manufacturing facilities through the U.S., and in the year ending March 31 it generated US $206 million in revenue. The purchase price represents 7.2 times TBEI's earnings before interest, taxes, depreciation and amortization for the same year. The deal strengthens Federal Signal's position as a specialty vehicle manufacturer in maintenance and infrastructure markets, according to an announcement about the deal. It adds to the company's existing expertise in chassis-based vehicles.