Shyft Group - M&A Summary and Business Overview

AutomotiveCompany

Shyft Group M&A Summary

Shyft Group has acquired 8 companies, including 4 in the last 5 years. It has also divested 2 assets.

Shyft Group’s largest acquisition to date was in 2009, when it acquired Utilimaster for $50M. It’s largest disclosed sale occurred in 2020, when it sold Spartan Motors - Emergency Response Unit to REV Group for $55M. Shyft Group has acquired in 7 different US states. The Company’s most targeted sectors include automotive (100%).

Shyft Group Business Overview

Where is Shyft Group headquartered?

Shyft Group is headquartered in Novi, Michigan.

What is Shyft Group’s revenue?

Shyft Group disclosed revenue of 872M USD for 2023 and 1,027M USD for 2022.

How many employees does Shyft Group have?

Shyft Group has 2,670 employees.

What sector is Shyft Group in?

Shyft Group is an automotive company.

When was Shyft Group founded?

Shyft Group was founded in 1975.

M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity8
    • M&A Sell Activity2
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 1

Shyft Group

The Shyft Group, Inc.

41280 Bridge Street,
Novi, Michigan 48375
United States,
(517) 543-6400
www.theshyftgroup.com

Shyft Group is a designer, and manufacturer of specialty chassis, specialty vehicles, truck bodies and aftermarket parts for the recreational vehicle (RV), emergency response (ER), government services, defense, and delivery and service markets. Shyft Group was founded in 1975 and is based in Novi, Michigan.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 5 1 - - 1 1 8
vol $86M $86M
Sell (0.2/yr) # 1 1 - - - - 2
vol $8M $55M $63M
  10

Most Recent M&A

Company Date Value Type
Independent Truck Upfitters 2024-07-25 - Add-on Acquisition
Kansas City, Missouri · www.ituinc.com
XL Fleet Corp. 2023-01-04 - Add-on Acquisition
Boston, Massachusetts · www.xlfleet.com
F3 MFG, Inc. 2020-10-01 - Add-on Acquisition
Waterville, Maine · www.F3mfg.com
Spartan Motors, Inc. - Emergency Response Unit 2020-02-03 55M USD Divestiture
, Michigan
Royal Truck Body 2019-09-10 - Add-on Acquisition
Carson, California · www.royaltruckbody.com
Strobes-R-Us, Inc. 2018-12-17 - Add-on Acquisition
Pompano Beach, Florida · www.strobes-r-us.com
Smeal Fire Apparatus Co. 2016-12-13 36M USD Add-on Acquisition
Snyder, Nebraska · www.smeal.com
Classic Fire LLC 2011-04-01 - Add-on Acquisition
Ocala, Florida
Road Rescue, Inc. 2010-09-20 8M USD Divestiture
Winter Park, Florida · www.roadrescue.com
Utilimaster Corp. 2009-11-30 50M USD Divestiture
Bristol, Indiana · www.utilimaster.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Automotive 8 (100%) 86M (100%) 2 (100%) 63M (100%)
Total 8 $86M 2 $63M

By Geo

State/Country Buy Value Sell Value
United States 8 86M 2 63M
  Florida 2 - 1 8M
  Nebraska 1 36M - -
  Missouri 1 - - -
  Massachusetts 1 - - -
  Maine 1 - - -
  Indiana 1 50M - -
  California 1 - - -
  Michigan - - 1 55M
Total 8 $86M 2 $63M

Deal Values

buy # Total
< $100M 2 $86M
TOTAL $86M
Largest Utilimaster Corp.
$50M (2009-11-30)
sell # Total
< $100M 2 $63M
TOTAL $63M
Largest Spartan Motors, Inc. - Emergency Response Unit
$55M (2020-02-03)

M&A Connections

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

Company Summary

SECTOR

Automotive

Revenue

872   16% 2023
1,027   4% 2022
992   47% 2021
676   11% 2020
757   8% 2019
816   16% 2018
707   20% 2017
591   8% 2016
550   9% 2015
507   9% 2014
469   1% 2013
470   2012
(millions of USD) Show More Show Less

Employees

2,670

Established

1975

Public

NASDAQ: SHYF

Former Name

Spartan Motors, Inc.

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