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

Aebi Schmidt Group Acquires Monroe Truck Equipment from Industrial Opportunity Partners

November 17, 2021

Industrial Services

Aebi Schmidt Group agreed to acquire Monroe Truck Equipment, a U.S.-based manufacturer and upfitter of municipal and commercial truck equipment, from private equity owner Industrial Opportunity Partners. D.A. Davidson served as financial advisor to Monroe; the deal (expected to close around end of 2021) gives Aebi Schmidt U.S. upfitting centers, nationwide distribution and cross-sell opportunities while Monroe gains access to Aebi Schmidt's global technologies and resources.

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.

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.

Shiftmove Acquires Optimum Automotive

October 15, 2024

Cloud & SaaS

Shiftmove, the German‑Swiss fleet management platform formed from the merger of Avrios and Vimcar, has acquired French digital fleet management provider Optimum Automotive. The deal expands Shiftmove’s presence into France and southern Europe; Optimum brings 107 employees, about 7,500 customers and roughly 200,000 vehicles under management, increasing Shiftmove’s combined reach across Europe.

Erbe Group Acquires Blazejewski MEDI-TECH GmbH from SHS

October 28, 2022

Medical Devices

The Erbe Group has acquired the shares held by healthcare investor SHS in Blazejewski MEDI-TECH GmbH, a Baden-based OEM developer and manufacturer of 2D and 3D chip-on-the-tip endoscopes. SHS had held a minority stake since 2020 and supported the company's international expansion and product development; Erbe expects to combine its electrosurgery expertise with Blazejewski's endoscopy technologies to drive integrated "see and treat" solutions and further growth.