USA: Oshkosh buys Italian firetruck makers
Defence, fire and emergency truck maker Oshkosh Truck Corporation, which supplies transporters to the British Army, has agreed to acquire 75% of the outstanding quotas (ownership interests) of BAI Brescia Antincendi International S.r.l. (BAI) and BAI Tecnica S.r.l. (Tecnica) from the current shareholders for €15 million. Oshkosh has the option to acquire the remaining 25% of these Italian-based companies after three years.
BAI sells municipal and airport fire trucks, and Tecnica sells firefighting equipment, worldwide. Combined annual sales are more than €30 million.
The company claims the acquisitions strengthen its position as the leading manufacturer of fire apparatus worldwide. Oshkosh already markets the leading municipal fire apparatus under its Pierce brand and the leading US airport fire apparatus under the Oshkosh name.
"It further solidifies Oshkosh's position as an international specialty truck and truck body manufacturer as well, with a broadening of its product lines and distribution throughout Europe and the Middle East," the company added.
BAI sells a complete line of municipal and industrial fire apparatus as well as rescue vehicles designed to meet the needs of European fire departments and export sales primarily to the Middle East and North Africa.
"We see an excellent opportunity for sharing technologies and best-practices across the Atlantic between our European and US fire truck subsidiaries," said Oshkosh chairman Robert Bohn.
BAI and Tecnica will operate as subsidiaries of Oshkosh Truck Corporation and will be part of the corporation's fire and emergency business.
Completion of the transaction is subject to certain conditions but is expected to occur later this month. Oshkosh expects to finance the acquisition from available credit facilities.