Wabash National Corporation announced that it has entered into a definitive agreement to acquire certain assets of the tank and trailer business of Beall Corporation, a Portland, Oregon-based manufacturer of aluminum tank trailers and related equipment, for approximately $15 million in cash. The acquisition is expected to close during the first quarter of 2013.
“This acquisition represents the latest step in our ongoing initiative to diversify outside of our core Commercial Trailer Products business. Additionally, these assets and the Beall brand name strategically complement our Walker Group business through product portfolio expansion and geographic growth in the West,” said Wabash National President and Chief Executive Officer, Dick Giromini. “Beall has a long-standing reputation for industry-leading product designs and quality. We’re excited about strengthening our tank trailer offering with another premier brand as we continue to identify opportunities to further grow and enhance shareholder value.”
Commenting on the transaction, President of the Walker Group, Doug Chapple said, “Established in 1905, the Beall brand further enhances our industry-leading liquid tank product lines which include Walker Transport and Brenner Tank. The addition of Beall’s 406 Petroleum tank trailer and Dry Bulk product line will open up new markets providing the broadest product portfolio in the tank industry and with the addition of production capabilities in Portland, Oregon, creates a truly nationwide footprint.”