Wabash National Corporation announced that it has completed its acquisition of Transcraft Corporation, one of the nation's largest designers and manufacturers of flatbed and drop deck trailers. The acquisition makes Wabash National the largest semi-trailer manufacturer in North America based on combined 2005 unit volume.
The all cash purchase price is approximately $71 million. Additional consideration of up to $4.5 million would be payable if the acquired company achieves certain 2006 performance targets.
"We are excited about the acquisition of Transcraft Corporation," said Bill Greubel, Wabash National Chief Executive Officer. "Transcraft, like Wabash National, offers innovative products under a reputable and quality brand name. This acquisition is part of our commitment to expand our customer base and grow our market leadership."
With 2005 annual sales of approximately $118 million, Transcraft Corporation maintains manufacturing operations in Anna, Ill., and Mt. Sterling, Ky. The organization was a portfolio company of Lincolnshire Management, Inc., a leading middle-market private equity investment firm.