From the SpartanERV website: CHARLOTTE, Mich., Dec. 13, 2016 /PRNewswire/ — Spartan Motors, Inc. (NASDAQ: SPAR), a global leader in specialty chassis and vehicle design, manufacturing, and assembly, has taken a major step forward in its emergency response business strategy by announcing the acquisition of Smeal Fire Apparatus Co. for $36.3 million. The deal, which is expected to close in January 2017, includes net working capital adjustments, liability forgiveness, and a tax gross-up payment that will be more than offset by tax benefits. The acquisition of Smeal, a top-tier fire apparatus manufacturer in North America, is a key part of Spartan’s plan to strengthen its emergency response division. Smeal is expected to generate around $100 million in revenue in 2016, including $30 million in Spartan chassis sales. This move not only expands Spartan’s product portfolio but also enhances its geographic reach and operational scale in the growing emergency response market. “This acquisition marks an important milestone in our turnaround strategy,†said Daryl Adams, President and CEO of Spartan Motors. “By bringing Smeal’s expertise and product line into our fold, we’re accelerating growth and creating greater value for our customers, dealers, and shareholders.†Adams added, “Smeal’s legacy and reputation are strong, and we’re excited to continue their success under Spartan’s leadership. This transaction brings together two industry leaders with a long history of collaboration, and it positions us well for future growth in a consolidating market.†Smeal, founded in 1955, operates facilities in Snyder, Neligh, Delavan, and Ephrata, and is known for its innovative aerial ladders, pumpers, and wildland vehicles. Rod Cerny, Chairman of Smeal, expressed confidence in Spartan’s ability to support the brand’s continued success. “We believe Spartan is the ideal partner to carry on Smeal’s legacy and ensure long-term growth,†he said. The acquisition is expected to boost Spartan’s Emergency Response segment significantly, adding roughly $70 million in annual revenue (excluding the $30 million in chassis sales). It also strengthens Spartan’s dealer network, which now spans 47 dealers across 44 U.S. states, 10 Canadian provinces, and three territories. With this strategic move, Spartan is positioning itself as a dominant player in the fire apparatus industry, leveraging Smeal’s technology and expertise to drive innovation and efficiency. The deal is expected to be accretive to earnings in 2017, driven by cost synergies and improved operational performance. For more details about the transaction, visit www.spartanmotors.com/smeal. Rechargeable Bike Light,Bike Lights,Led Bicycle tail Light,Rechargeable Bicycle front Light,Bike rear light NINGBO KLEANSOURCE ELECTRONIC TECHNOLOGY CO., LTD , https://www.vehiclelightings.com
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