M&A Deal Summary

Federal Signal Acquires New Way Trucks

On September 24, 2025, Federal Signal acquired automotive company New Way Trucks for 396M USD

Acquisition Highlights
  • This is Federal Signal’s 9th transaction in the Automotive sector.
  • This is Federal Signal’s largest (disclosed) transaction.
  • This is Federal Signal’s 14th transaction in the United States.
  • This is Federal Signal’s 1st transaction in Iowa.

M&A Deal Summary

Date 2025-09-24
Target New Way Trucks
Sector Automotive
Buyer(s) Federal Signal
Deal Type Add-on Acquisition
Deal Value 396M USD
Advisor(s) Stifel (Financial)

Target

New Way Trucks

Scranton, Iowa, United States
New Way Trucks is a designer and manufacturer of refuse collection vehicles. New Way Trucks was founded in 1971 and is based in Scranton, Iowa.

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Buyer(S) 1

Buyer

Federal Signal

Downers Grove, Illinois, United States

Category Company
Founded 1901
Sector Safety/Security
Employees4,700
Revenue 1.9B USD (2024)
DESCRIPTION

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.


DEAL STATS #
Overall 16 of 16
Sector: Automotive M&A 9 of 9
Type: Add-on Acquisition M&A Deals 15 of 15
State: Iowa M&A 1 of 1
Country: United States M&A 14 of 14
Year: 2025 M&A 2 of 2
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-12 Hog Technologies

Stuart, Florida, United States

Hog Technologies is a manufacturer of truck-mounted road-marking, line-removal, and water-blasting equipment. Hog Technologies was founded in 1988 and is based in Stuart, Florida.

Buy $78M