Oshkosh acquires Iowa Mold Tool

24 April 2008

In an all-cash deal valued at $131 million, Iowa Mold Tooling Co. Inc. (IMT) will be acquired by Oshkosh Truck Corporation through a merger.IMT is a portfolio company of American Capital Strategies, Ltd. The transaction is expected to be completed by September 30, 2006.

“This is a great opportunity all-around for IMT,” said Steve Fairbanks, president of IMT.“Oshkosh's acquisition strategy states that they acquire market leaders, and we are honored that we are seen in that light by a company as prestigious as Oshkosh. We look forward to learning from and sharing best practices with the portfolio of market-leading Oshkosh companies.”

IMT is a leading North American manufacturer of field service vehicles, including mechanics' trucks, lubrication trucks and tire service vehicles. The company also produces truck-mounted telescopic cranes, articulating cranes and wallboard loaders. Oshkosh Truck is a leading manufacturer of specialty commercial, fire and emergency and military trucks, and truck bodies with brand names such as Pierce fire trucks, McNeilus concrete mixers, Jerr-Danwreckers and London concrete mixers. With sales of about $3 billion for its fiscal 2005, Oshkosh employs more than 8,000 people worldwide.

IMT is headquartered in Garner, IA, employs about 375 people and is expected to operate as a wholly owned subsidiary of Oshkosh Truck Corporation's commercial segment.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
US Service Group acquires Transcope Services
A newly formed company, US Service Group is building a national rigging and machinery moving business. 
Reliable Crane acquires Champion Crane
The acquistion of Champion Crane brings a larger California footprint and a distinctly different market to Reliable Crane.
125 K excels in New Rochelle
Painted in Extreme Construction’s orange and black colors, the 125 K makes a statement on the skyline
CONNECT WITH THE TEAM
D.Ann Shiffler Editor, American Cranes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com
CONNECT WITH SOCIAL MEDIA