The Shyft Group Acquires F3 MFG (DuraMag)
October 1, 2020
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.
- Buyers
- The Shyft Group, Inc.
- Targets
- F3 MFG, Inc.
- Industry
- Manufacturing
- Location
- Maine, United States
- Transaction Type
- Buyout
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