Oshkosh Truck Corp. (Oshkosh, Wis.), a manufacturer of specialty vehicles and vehicle bodies, announced that it has completed the acquisition of JLG Industries, Inc. (JLG) for $28 per share in an all-cash transaction valued at approximately $3.2 billion. With the addition of JLG's forecasted revenues, Oshkosh Truck now expects to surpass $6 billion in net sales for fiscal 2007.
"I am pleased to welcome JLG, the world leader in aerial work platforms and telehandlers, to the Oshkosh family of companies, said Robert G. Bohn, Oshkosh's chairman, president and chief executive officer. “This acquisition further strengthens our company by diversifying our product offerings and customer segments, providing scale in procurement and broadening our global reach, which are all important to our growth plans."
JLG is the 15th acquisition Oshkosh Truck has made under the current management team in the last 10 years. It will operate as its fourth and largest segment.
Source: Oshkosh Truck