Federal Signal Executes Agreement to Acquire Joe Johnson Equipment
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Federal Signal (FSS) Tops Q4 EPS by 3c; Will Acquire Joe Johnson Equipment in ~$79M Deal
February 29, 2016 6:48 AM ESTFederal Signal (NYSE: FSS) reported Q4 EPS of $0.27, $0.03 better than the analyst estimate of $0.24. Revenue for the quarter came in at $186.4 million versus the consensus estimate of $193 million.
Federal Signal also announced the signing of a definitive agreement to acquire substantially all of the assets and operations of Joe Johnson Equipment ("JJE"), a leading Canadian-based distributor of maintenance equipment for municipal and industrial markets, for initial consideration of C$108 million (approximately U.S. $79 million), subject to post-closing adjustments. In addition, there is a deferred payment of C$8 million and a contingent earn-out... More
