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New Deal


Announced

Spartan Motors acquires California truck manufacturer.

Financials

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Transaction Value-
Consideration Type-
Capital Owned-
Capital Bid For100%
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EV/EBITDA-
Share Price Premium-
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Tags

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trucking manufactures

Pending

United States

trucks

Acquisition

Private

Automobiles

Single Bidder

Synopsis

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Spartan Motors, the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries, as well as for the emergency response and recreational vehicle markets, has purchased the assets of General Truck Body and will begin operating a production facility located in Montebello, California. The purchase of General Truck Body assets immediately expands Spartan Motors' truck body manufacturing operations into California while enhancing refrigerated vehicle production capabilities and grants customers access to additional truck and van body types. Augmenting Spartan's recent East Coast expansion, the addition of this Southern California manufacturing and assembly facility increases Spartan and Utilimaster's product portfolio and effectively grants customers efficient, cost-competitive build-and-ship capabilities from coast-to-coast. "As we welcome GTB to the Spartan and Utilimaster family, it's my hope that Spartan's size, stability, and commitment to long-term sustainable profitable growth will reassure customers and employees alike. We are committed to the location and to providing our customers with an even broader portfolio of solutions so that Spartan and Utilimaster can effectively become a one-stop shop for commercial and retail vehicle customers. GTB's facility, product set, and its talented people help us do just that," Daryl Adams, Spartan Motors President and Chief Executive Officer.

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