Federal Signal Corporation entered into a commitment agreement to acquire Substantially All the Assets and Operations of Deist Industries, Inc. for $40 million.
November 08, 2021
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Federal Signal Corporation (NYSE:FSS) entered into a definitive agreement to acquire Substantially All the Assets and Operations of Deist Industries, Inc. for $40 million on November 9, 2021. The transaction includes an initial purchase price of $32.5 million, subject to post-closing adjustments. In addition, there is a contingent earn-out payment of up to $7.5 million, based upon the achievement of certain financial targets over a specified performance period. In 2020, Deist has generated revenues of approximately $41 million. Federal Signal expects to complete the transaction before the end of 2021, subject to customary closing conditions, and expects the acquisition to be accretive in the first year.
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Companyâs segments include Environmental Solutions Group and Safety and Security Systems. The Environmental Solutions Group is a manufacturer and supplier of a full range of street sweepers, sewer cleaners, industrial vacuum loaders, safe-digging trucks, water blasting equipment, road-marking and line-removal equipment, dump truck bodies, trailers, metal extraction support equipment and multi-purpose tractors. It manufactures vehicles and equipment in the United States and Canada that are sold under the Elgin, Vactor, Guzzler, TRUVAC, Westech, and Jetstream. The Safety and Security Systems Group is manufactures and supplier of comprehensive systems and products that law enforcement, fire rescue, emergency medical services, campuses, military facilities, and industrial sites use to protect people and property.
Federal Signal Corporation entered into a commitment agreement to acquire Substantially All the Assets and Operations of Deist Industries, Inc. for $40 million.
FEDERAL SIGNAL CORPORATION 
