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Federal Signal - M&A Summary and Business Overview

Safety/securityCompany

Federal Signal M&A Summary

Federal Signal has acquired 15 companies, including 8 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 2 assets.

Federal Signal’s largest acquisition to date was in 2017, when it acquired Truck Bodies & Equipment International for $270M. It’s largest disclosed sale occurred in 2012, when it sold FSTech to 3M for $110M. Federal Signal has acquired in 11 different US states, and 3 countries. The Company’s most targeted sectors include automotive (54%) and distribution (14%).

Federal Signal Business Overview

Where is Federal Signal headquartered?

Federal Signal is headquartered in Downers Grove, Illinois.

What is Federal Signal’s revenue?

Federal Signal disclosed revenue of 1,862M USD for 2024 and 1,723M USD for 2023.

How many employees does Federal Signal have?

Federal Signal has 4,700 employees.

What sector is Federal Signal in?

Federal Signal is a safety/security company.

When was Federal Signal founded?

Federal Signal was founded in 1901.

M&A Summary

  • M&A Total Activity17
    • M&A Buy Activity15
    • M&A Sell Activity2
  • Total Sectors Invested 6
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 5

Federal Signal

Federal Signal Corp.

1333 Butterfield Road, Suite 500,
Downers Grove, Illinois 60515
United States,
(630) 954-2000
www.federalsignal.com

Federal Signal is a manufacturer of niche products in four operating groups, safety and signaling products, custom signage, consumable industrial tooling, and emergency and environmental vehicles. Federal Signal was founded in 1901 and is based in Downers Grove, Illinois.


M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (1.4/yr) # 8 3 2 - 1 1 15
vol $525M $130M $60M $39M $78M $832M
Sell (0.0/yr) # 2 - - - - - 2
vol $200M $200M
  17
+13015161714.515.516.517.50

Most Recent M&A

Company Date Value Type
Hog Technologies, Inc. 2025-02-12 78M USD Add-on Acquisition
Stuart, Florida · www.thehog.com
Standard Equipment Co. 2024-10-07 39M USD Add-on Acquisition
Elmhurst, Illinois · www.standardequipment.com
Blasters, Inc. 2022-11-17 14M USD Add-on Acquisition
Tampa, Florida · www.blasters.net
TowHaul Corp. 2022-09-07 46M USD Add-on Acquisition
Belgrade, Montana · www.towhaul.com
Deist Industries, Inc. 2021-11-10 33M USD Add-on Acquisition
Hadley, Pennsylvania · www.deistindustries.com
Ground Force Worldwide 2021-09-08 45M USD Add-on Acquisition
Post Falls, Idaho · www.gfworldwide.com
Osw Equipment & Repair LLC 2021-02-18 53M USD Add-on Acquisition
Snohomish, Washington · www.oswequipment.com
Public Works Equipment Supply, Inc. 2020-06-15 3M USD Add-on Acquisition
Monroe, North Carolina · www.pweasi.com
Mark Rite Lines Equipment Co., Inc. 2019-05-14 56M USD Add-on Acquisition
Billings, Montana · www.markritelines.com
Truck Bodies & Equipment International, Inc. 2017-05-08 270M USD Add-on Acquisition
Eden Prairie, Minnesota · www.tbei.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Automotive 8 (53%) 278M (33%) - -
Distribution 2 (13%) 85M (10%) - -
Manufacturing 2 (13%) 316M (38%) - -
Electronics 1 (7%) 115M (14%) 1 (50%) 110M (55%)
Business Services 1 (7%) 39M (5%) - -
Software 1 (7%) - - -
Machinery - - 1 (50%) 90M (45%)
Total 15 $832M 2 $200M

By Geo

State/Country Buy Value Sell Value
United States 13 832M 1 110M
  Montana 2 102M - -
  Florida 2 92M - -
  Illinois 1 39M 1 110M
  Washington 1 53M - -
  Tennessee 1 115M - -
  Pennsylvania 1 33M - -
  North Carolina 1 3M - -
  New York 1 82M - -
  Minnesota 1 270M - -
  Idaho 1 45M - -
  Alabama 1 - - -
1 - - -
Canada 1 - - -
  Alberta 1 - - -
Finland - - 1 90M
Domestic 13 (87%) 832M (100%) 1 (50%) 110M (55%)
Cross-border 2 (13%) - 1 (50%) 90M (45%)
Total 15 $832M 2 $200M

Deal Values

buy # Total
$100M to $1B 2 $385M
< $100M 10 $447M
TOTAL $832M
Largest Truck Bodies & Equipment International, Inc.
$270M (2017-05-08)
sell # Total
$100M to $1B 1 $110M
< $100M 1 $90M
TOTAL $200M
Largest FSTech
$110M (2012-06-21)

M&A Connections

Deals
Acquired from
Investor(s)
13%
2 (13%)
Strategic(s)
7%
1 (7%)
Divested to
Strategic(s)
100%
2 (100%)

Company Summary

SECTOR

Safety/Security

Revenue

1,862   9% 2024
1,723   21% 2023
1,435   19% 2022
1,213   8% 2021
1,131   8% 2020
1,221   13% 2019
1,090   22% 2018
899   27% 2017
708   8% 2016
768   17% 2015
919   29% 2014
713   12% 2013
803   2012
(millions of USD) Show More Show Less

Employees

4,700

Established

1901

Public

NYSE: FSS

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