PE-backed Advance Engineered Products to sell vacuum trucks maker
Federal Signal Corp (NYSE: FSS) has agreed to acquire Westech Vac Systems Ltd, a manufacturer of high-quality, rugged vacuum trucks based in Nisku, Alberta. No financial terms were disclosed for the all-cash deal, which is expected to close in January. The seller of Westech is Advance Engineered Products Ltd, a Canadian designer and manufacturer of tank truck and trailer equipment. Advance, which obtained creditor protection earlier this year, was acquired in October by Canadian private equity firm Ironbridge Equity Partners. Ironbridge recently confirmed the investment, noting it was made by Ironbridge Equity Partners II LP, which raised $154 million in 2014.
22 December 2015•3 mins read
