Leach, Wittke Sell OperationsLeach, Wittke Sell Operations
September 1, 2002
Federal Signal Corp., Oak Brook, Ill., has announced its intention to enter the refuse market by purchasing the stock of Leach Co., Oshkosh, Wis., and Wittke Inc., Calgary, Alberta, Canada.
Both acquisitions are scheduled to be completed by the end of October, with a combined annual revenue of approximately $130 million.
Federal Signal, which is comprised of four operating segments — environmental products, fire rescue, safety products and tool components — will place both acquisitions in its environmental products sector.
“We are excited about the opportunity to enter the refuse equipment market,” Federal Signal chairman and CEO Joseph J. Ross said. “Wittke and Leach have strong, complementary market positions … [providing Federal Signal] with a complete refuse body product line for both municipal and industrial customers.”
According to Leach President and CEO Frederick E. Leach, the sale was a result of family differences concerning ownership, not concerns about market conditions or financial stability.