{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-25-042691","form_type":"8-K","ticker":"FSS","cik":"0000277509","company_name":"FEDERAL SIGNAL CORP /DE/","filed_at":"2025-09-25T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.001631+00:00","generated_at":"2026-05-17T05:43:20.084795+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Federal Signal to acquire New Way Trucks for $396M; expands into refuse vehicle market","bullets":["Initial purchase price $396M plus $30M for facilities; up to $54M earnout; ~11x 2026E EBITDA after tax benefits.","Financed with cash and credit facility; pro-forma net debt leverage expected below 1.5x.","EPS neutral in 2026, accretive $0.40-$0.45 in 2028, with $15M-$20M annual synergies by end of 2028.","New Way is a leading U.S. refuse truck maker, specializing in automated side loaders for municipal and private haulers.","Closing expected Q4 2025; subject to HSR antitrust clearance and customary closing conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-25-042691","json":"https://secwatch.observer/filing/0001628280-25-042691.json","markdown":"https://secwatch.observer/filing/0001628280-25-042691.md","text":"https://secwatch.observer/filing/0001628280-25-042691.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/277509/000162828025042691/0001628280-25-042691-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/277509/000162828025042691/fss-20250924.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T05:43:20.084795+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}