Shiftmove Acquires Optimum Automotive

The Shyft Group Merges with Aebi Schmidt Group in an All-Stock Transaction

July 1, 2025

Industrial Services

The Shyft Group (NASDAQ: SHYF) and Aebi Schmidt Group announced a definitive all-stock merger agreement to create a global specialty vehicles leader. Shyft shareholders will own 48% of the combined company and Aebi Schmidt shareholders will own 52%, with the deal expected to close by mid-2025 subject to customary approvals. The merger was subsequently completed on July 1, 2025 and the combined company began operating as Aebi Schmidt Group.

The Shyft Group Acquires Independent Truck Upfitters

August 2, 2024

Automotive

The Shyft Group, a publicly traded specialty vehicle manufacturer, acquired Independent Truck Upfitters (ITU), a Midwest-based service body and work truck upfitter operating locations in Iowa, Michigan, and Missouri. The acquisition expands Shyft's specialty vehicle product portfolio and upfitting capabilities, enabling entry into larger-class vehicle upfits and broader service offerings for utility, construction, and fleet customers.

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.

Beeline Acquires Utmost

October 19, 2022

Cloud & SaaS

Beeline, the provider of an extended workforce platform, has agreed to acquire Utmost, a next-generation extended workforce solutions company. The acquisition adds Utmost's total-talent intelligence and integration capabilities to Beeline's Extended Workforce Platform, accelerating its product roadmap and delivering broader contingent workforce visibility for customers.

nShift (Marlin) Acquires Webshipper

September 21, 2021

Logistics & Distribution

Marlin Equity Partners’ portfolio company nShift has acquired Webshipper, a Denmark-based e-commerce shipping and delivery management platform. Webshipper will be merged into nShift to expand nShift’s product capabilities and strengthen its market position in the Nordics and internationally.

Strategic Mapping Acquires moovel North America

June 22, 2020

Transportation

Toronto-based Strategic Mapping has acquired moovel North America, a Portland-based provider of mobile ticketing and multimodal transit solutions. The deal combines Strategic Mapping's ITS, CAD-AVL and systems-integration capabilities with moovel's mobile ticketing platforms to offer a broader product portfolio for public transit agencies.