Federal Signal completes acquisition of Hog Technologies for initial $78.1M plus earn-out

FEDERAL SIGNAL CORP /DE/

Initial purchase price $78.1M, plus earn-out up to $15M on 2025 financial targets.
Acquired Hog's primary manufacturing facility in Stuart, FL for $14.5M.
Hog generated ~$65M revenue in 2024; aftermarket parts/services ~35% of total.
Deal funded from cash on hand and revolver; expected accretive to 2025 earnings/cash flow.
2025 outlook including Hog impact to be issued during Q4 2024 earnings call later this month.

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