Wabash National negotiating to acquire Transcraft
Feb 9, 2006 3:06 PM
Wabash National announced today that it is in discussions to acquire Transcraft Corporation, a portfolio company of Lincolnshire Management Inc., a leading middle-market private equity investment firm.
Transcraft, with sales of approximately $120 million, is one of the nation's largest designers and manufacturers of flatbed and drop deck trailers. Subject to completion of contract negotiation and bank and Board approvals, the parties believe that the possible transaction could be completed during the first quarter of 2006.
"We are excited with the potential to add a great brand to our product portfolio,” said William P. Greubel, Chief Executive Officer. “Transcraft, like Wabash National, is recognized as a leader in product innovation, quality manufacturing, and customer satisfaction. Wabash National has been one of Transcraft's largest dealers over the past two years and we have a keen appreciation of the product's acceptance by owner operators and fleet customers. Should negotiations be successfully completed, the acquisition of Transcraft would be consistent with Wabash's strategic objectives of profitably expanding our market presence while capitalizing on our core competencies."
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