The Shyft Group Acquires Independent Truck Upfitters

The Shyft Group Acquires XL Fleet

January 4, 2023

Automotive

The Shyft Group, Inc. completed the acquisition of XL Fleet, integrating XL Fleet technical talent, equipment and a 24,655-square-foot Wixom, Michigan technology center into Shyft’s EV-focused Blue Arc business. The acquisition includes assuming a short-term lease on the Wixom facility and supporting completion of a Department of Defense pilot development agreement to advance fleet electrification and drivetrain technology.

Aebi Schmidt Holding AG Acquires The Shyft Group

July 1, 2025

Manufacturing

Aebi Schmidt Holding AG completed a merger of an indirect wholly owned Aebi Schmidt subsidiary with and into The Shyft Group on July 1, 2025, creating the combined company now operating as Aebi Schmidt Group. The all‑stock transaction (Shyft shares exchanged for ~1.04 shares of the combined company) will result in the combined company trading on NASDAQ and reports $1.9 billion pro forma revenue for 2024; Shyft common stock has been delisted.

Toys for Trucks Acquires Vision Upfitters

March 1, 2022

Automotive

Toys for Trucks, a Midwest automotive accessories retailer, has acquired Vision Upfitters, a vehicle equipment and fleet upfitting provider based in Cameron, Missouri. The transaction, advised by Generational Equity, closed on March 1, 2022 and expands Toys for Trucks' geographic footprint and service capabilities in vehicle upfitting and accessories.

The Shyft Group Acquires F3 MFG (DuraMag)

October 1, 2020

Manufacturing

The Shyft Group, Inc. acquired F3 MFG, Inc., the maker of DuraMag aluminum truck bodies and Magnum branded headache racks, adding the business to its Shyft Specialty Vehicles unit. The acquisition (paid with available cash) expands Shyft's product lineup and national footprint, complements its recent Royal Truck Body purchase, and brings a 140,000 sq ft Waterville, Maine manufacturing facility with reported 2019 sales of about $25 million.

Titanium Transportation Acquires International Truckload Services Group (ITS)

February 5, 2021

Trucking & Fleet

Titanium Transportation Group Inc. acquired all shares of International Truckload Services Group (ITS) for approximately $60.5 million (cash and assumption of net debt), adding ITS' assets, footprint and customer base to Titanium's platform. ITS, founded in 1986 and based in Belleville, Ontario, generates about $80 million in annual revenue, operates ~330 power units and 1,600 trailers, and employs roughly 470 people; the deal expands Titanium's scale and geographic coverage across southern Ontario, Quebec and the United States.

Shyft Global Services (TD SYNNEX) Acquires Cokeva, Inc.

January 2, 2024

IT Services

Shyft Global Services, a division of TD SYNNEX, has acquired Cokeva, Inc., an IT equipment repair, test and refurbishment specialist headquartered in Roseville, California. The acquisition adds Cokeva's 220,000 sq. ft. Roseville facility and more than 200 trained repair experts to Shyft's global depot repair footprint, expanding capabilities, certifications and circular-economy repair services for OEM customers.