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Oshkosh Corporation (NYSE:OSK) has finalized the acquisition of Maxi-Métal Inc., a leading manufacturer of custom fire apparatus and utility vehicles in Canada. This strategic move aims to enhance Oshkosh's Fire & Emergency segment by leveraging MAXIMETAL's expertise to expand sales and distribution capabilities through Pierce's North American dealer network. Founded in 1983, MAXIMETAL will retain its brand identity, team, and facilities, thus strengthening Oshkosh's position in the Canadian market.
Positive
Acquisition of Maxi-Métal strengthens Oshkosh's presence in the Canadian fire apparatus market.
Increased sales and distribution capabilities through integration with Pierce's North American dealer network.
Access to MAXIMETAL's expertise and leadership enhances market growth.
Negative
None.
Acquisition strengthens strategic growth opportunities within the Canadian fire apparatus market.
OSHKOSH, Wis.--(BUSINESS WIRE)--
Oshkosh Corporation (NYSE:OSK), a leading innovator of mission-critical vehicles and essential equipment, announced today that it has completed the acquisition of Maxi-Métal Inc. (MAXIMETAL) of Saint-Georges de Beauce, Quebec, Canada. MAXIMETAL is a leader in the design and manufacture of custom fire apparatus and utility vehicles in the Canadian market and will be part of Oshkosh’s Fire & Emergency segment.
Maxi-Métal Inc., a leading manufacturer of custom fire apparatus in the Canadian market will join Oshkosh Corporation's Fire & Emergency segment. (Photo: Business Wire)
“MAXIMETAL is an organization known for quality, reliability, and an overriding focus on customer service and support,” said John C. Pfeifer, Oshkosh Corporation president and chief executive officer. “Their culture and customer focus align exceptionally well with Oshkosh, Pierce Manufacturing and its dealer network.
“This acquisition will enhance the combined strengths of Pierce and MAXIMETAL by broadening collaboration and expanding sales and distribution capabilities within Pierce’s North American dealer network,” said Jim Johnson, Oshkosh Corporation executive vice president and Fire & Emergency segment president. “Oshkosh expects to benefit from MAXIMETAL’s experience and leadership as the company grows its combined presence in the Canadian market.”
MAXIMETAL has served fire and emergency professionals since 1983 and is a premier fire apparatus manufacturer in Canada. MAXIMETAL will maintain its name, team members, facilities, and branding elements.
About Oshkosh Corporation
At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs approximately 15,000 team members worldwide, all united behind a common cause: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™, Oshkosh® Airport Products, London™ and Pratt Miller. For more information, visit oshkoshcorp.com.
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
About Pierce Manufacturing
Pierce Manufacturing Inc., an Oshkosh Corporation [NYSE: OSK] company, is the leading North American manufacturer of custom fire apparatus. Products include custom and commercial pumpers, aerials, rescue trucks, wildland trucks, mini pumpers, elliptical tankers, and homeland security apparatus. In addition, Pierce designs its own foam systems and was the first company to introduce frontal airbags and the Side Roll Protection system to fire apparatus. To learn more about Pierce, visit www.piercemfg.com.
Forward Looking Statements
This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the extent of supply chain and logistics disruptions, particularly as demand rebounds from the COVID-19 pandemic;impacts of the conflict in Ukraine, including impacts on supply chains, logistics, input costs, capital markets and demand; the Company’s ability to increase prices or impose surcharges to raise margins or to offset higher input costs, including increased raw material, labor and freight costs; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, which are particularly impacted by the strength of U.S. and European economies and construction seasons; the Company’s ability to successfully identify, complete and integrate acquisitions and to realize the anticipated benefits associated with the same; and risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission, including the Form 8-K. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
