Federal Signal Corp. to Acquire Joe Johnson Equipment

Federal Signal Corporation announced that it has agreed to acquire substantially all of the assets and operations of Joe Johnson Equipment (JJE).  Based in Ontario, Canada, JJE provides municipalities and contractors with street sweepers, sewer cleaners, vacuum trucks, snow removal equipment, and refuse collection equipment.  The company had revenues of approximately C$154 million in the fiscal year ending August 31, 2015.  The deal, which is expected to close by the end of the second quarter of 2016, calls for an up-front purchase price of C$108 million, a deferred payment of C$8 million and a contingent earnout of C$10 million.