Environmental and safety solutions provider Federal Signal Corporation acquired Standard Equipment Company (Standard).
Terms of the transaction were not disclosed.
The deal involved an initial purchase price of $38.8 million, along with a “contingent earn-out payment” of $4.8 million tied to the achievement of specific financial targets.
“Standard expands our existing aftermarket platform by adding further scale and capabilities to our parts, services, rental and used equipment operations,” Federal Signal President and CEO Jennifer Sherman said in an Oct. 7 news release.
Elmhurst, IL-based Standard is a distributor of maintenance and infrastructure equipment for industrial and municipal markets. Established in 1969, the company has partnered with Federal Signal to distribute several of its product lines, including — Vactor, Elgin and TRUVAC —in parts of Illinois and Indiana.
“The acquisition also further increases our ability to target new customer cohorts, while expanding our footprint in an attractive geographic market that can be leveraged by additional Federal Signal product lines long term,” Sherman added.
Federal Signal said it expects the acquisition will enhance earnings and cash flow in 2025.
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