Federal Signal signs agreement to acquire TowHaul for $46.1M cash

FEDERAL SIGNAL CORP /DE/

Purchase price of $46.1M in cash for substantially all assets and operations of TowHaul, including manufacturing facility in Belgrade, MT.
TowHaul manufactures off-road towing and hauling equipment; aftermarket parts/service represent ~35% of annual revenues.
Transaction expected to close in Q4 2022, subject to customary closing conditions; expected to be accretive in 2023.
Combination with prior acquisition Ground Force Worldwide strengthens Federal Signal's specialty vehicle platform.

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