Oshkosh to acquire AeroTech business from JBT for $800m.

Oshkosh, an innovator of purpose-built vehicles and equipment, agreed to acquire AeroTech business from JBT, a global technology solutions provider to high-value segments of the food processing and air transportation industries, for $800m. “This transaction supports our ‘Innovate. Serve. Advance.’ business strategy as we enter the attractive air transportation support space with a market-leading portfolio of purpose-built products and comprehensive service offerings. AeroTech meets all the criteria of our M&A priorities, and we believe it will enhance the financial profile of our Vocational segment, further strengthening this growing segment and enabling it to move beyond our goal of $3 billion-plus annual revenue with double-digit margins. We look forward to working with the AeroTech team to integrate the business and unlock value for our customers and shareholders,” John Pfeifer, Oshkosh President and CEO.