Federal Signal Completes Acquisition of New Way Trucks

Federal Signal Corporation Acquires TowHaul Corporation

October 3, 2022

Manufacturing

Federal Signal Corporation has completed the acquisition of substantially all assets and operations of TowHaul Corporation for a purchase price of $46.1 million, subject to post-closing adjustments. The deal expands Federal Signal's product offerings in off-road towing and hauling equipment, strengthening its position in specialized vehicles for maintenance, infrastructure and mining markets.

Federal Signal Acquires OSW Equipment & Repair, LLC

February 18, 2021

Manufacturing

Federal Signal Corporation completed the acquisition of OSW Equipment & Repair, LLC (including Northend Truck Equipment and Western Truck Body) for $52.5 million in cash. The deal expands Federal Signal's Truck Bodies and Equipment platform geographically across the U.S. West Coast, Arizona and parts of Canada and adds manufacturing and upfitting capabilities serving infrastructure, construction and industrial end markets.

Federal Signal Completes Acquisition of Mega Corp

January 22, 2026

Industrial Services

Federal Signal Corporation has completed its acquisition of Mega Corp., a manufacturer of specialty vehicles and equipment used in global metal extraction and construction markets. The definitive agreement was signed on December 18, 2025, and the deal price was $45.5 million in cash (subject to post-closing adjustments). The acquisition is expected to be accretive to earnings and cash flow in 2026 and expands Federal Signal’s specialty vehicle platform by combining Mega with its Ground Force and TowHaul businesses.

Federal Signal Acquires Hog Technologies (Waterblasting, LLC)

February 12, 2025

Manufacturing

Federal Signal Corporation completed the acquisition of substantially all assets and operations of Waterblasting, LLC, owner of Hog Technologies, for an initial purchase price of $78.1 million plus a contingent earn-out opportunity of up to $15 million. The company also agreed to acquire Hog’s primary manufacturing facility in Stuart, Florida for $14.5 million; Hog reported ~ $65 million of 2024 revenue and about 150 employees. The deal expands Federal Signal’s specialty vehicle platform and aftermarket service capabilities across municipal, infrastructure and airport end markets.

Federal Signal Acquires Standard Equipment Company

October 4, 2024

Industrial Services

Federal Signal Corporation completed the acquisition of substantially all assets and operations of Standard Equipment Company, a distributor of specialty maintenance and infrastructure equipment based in Elmhurst, Illinois. The deal closed Oct. 4, 2024, with an initial purchase price of $38.8 million plus a contingent earn-out of up to $4.8 million; Federal Signal said the acquisition expands its aftermarket parts, service, rental and used-equipment capabilities and footprint in Illinois and Indiana.

Penske Truck Leasing Acquires Kris-Way Truck Leasing, Inc.

March 30, 2023

Transportation

Penske Truck Leasing has reached an agreement to acquire Kris-Way Truck Leasing, Inc., a New England-based transportation services company offering truck leasing, rental, maintenance and dedicated contract carriage. The deal will add Kris-Way's approximately 150 associates, over 900 vehicles and seven locations across Maine and New Hampshire to Penske's network; financial terms were not disclosed and closing was expected in Q2 2023 subject to customary approvals.