Federal Signal Corporation completed the acquisition of substantially all the assets and operations of Blasters, Inc. and Blasters Technologies, LLC.
January 03, 2023
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Federal Signal Corporation (NYSE:FSS) entered into a definitive agreement to acquire substantially all the assets and operations of Blasters, Inc. and Blasters Technologies, LLC for $21.4 million on November 17, 2022. The total consideration include an initial purchase price of $13.4 million, subject to post-closing adjustments, and a contingent earn-out payment of up to $8 million. The deal was funded through existing cash and borrowings under the Company's revolving credit facility. Federal Signal Corporation anticipates completing the transaction over the next 90 days, subject to customary closing conditions.
Federal Signal Corporation (NYSE:FSS) completed the acquisition of substantially all the assets and operations of Blasters, Inc. and Blasters Technologies, LLC on January 3, 2023.
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Companyâs segments include Environmental Solutions Group and Safety and Security Systems. The Environmental Solutions Group is a manufacturer and supplier of a full range of street sweepers, sewer cleaners, industrial vacuum loaders, safe-digging trucks, water blasting equipment, road-marking and line-removal equipment, dump truck bodies, trailers, metal extraction support equipment and multi-purpose tractors. It manufactures vehicles and equipment in the United States and Canada that are sold under the Elgin, Vactor, Guzzler, TRUVAC, Westech, and Jetstream. The Safety and Security Systems Group is manufactures and supplier of comprehensive systems and products that law enforcement, fire rescue, emergency medical services, campuses, military facilities, and industrial sites use to protect people and property.