Public Company Manufacturing

The Shyft Group

Novi, Michigan, United States

The Shyft Group operates through a roster of specialty vehicle and upfit brands serving commercial, retail, and service markets (including Utilimaster, Blue Arc EV, Royal Truck Body, DuraMag, Magnum Truck Racks, Strobes-R-Us, Spartan RV Chassis, ITU, and Builtmore Contract Manufacturing).

Focus Areas
Specialty vehicle manufacturing, Vehicle upfitting, Truck body manufacturing

Tracked deals

3

3 tracked deals across 2020-2024.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Buyout

3 buyout

The Shyft Group Acquisition Volume by Year

Last 3 years

Acquisition volume by year Annual acquisition counts for the last 3 years for The Shyft Group. 1 2020 1 2023 1 2024

Supporting Data

Recent Transactions

  • The Shyft Group Acquires Independent Truck Upfitters
    August 2, 2024
    Buyer
    The Shyft Group
    Target
    Independent Truck Upfitters
    Industry
    Automotive
    Location
    Iowa, United States
    Type
    Buyout

    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
    Buyer
    The Shyft Group, Inc.
    Target
    XL Fleet
    Seller
    Spruce Power
    Industry
    Automotive
    Location
    Massachusetts, United States
    Type
    Buyout

    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
    Buyer
    The Shyft Group, Inc.
    Target
    F3 MFG, Inc.
    Industry
    Manufacturing
    Location
    Maine, United States
    Type
    Buyout

    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.

Related Acquisition Pages

Automotive Buyers & Acquisitions 2 tracked deals by The Shyft Group. Manufacturing Buyers & Acquisitions 1 tracked deal by The Shyft Group. Acquisitions in Iowa 1 tracked deal by The Shyft Group. Acquisitions in Maine 1 tracked deal by The Shyft Group. Acquisitions in Massachusetts 1 tracked deal by The Shyft Group.

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