Wabash National Corp. has announced that it has completed its acquisition of Transcraft Corp., one of the nation’s largest designers and manufacturers of flatbed and drop-deck trailers. The acquisition makes Wabash National the largest semi-trailer manufacturer in North America based on combined 2005 unit volume.
The all-cash purchase price is about $71 million; additional consideration of up to $4.5 million would be payable if Transcraft achieves certain 2006 performance targets. With 2005 annual sales of about $118 million, Transcraft maintains manufacturing operations in Anna, Ill. and Mt. Sterling, Ky; the organization was a portfolio company of Lincolnshire Management, a middle-market private equity investment firm.
“We are excited about the acquisition of Transcraft Corporation,” says Bill Greubel, chief executive officer of Lafayette, Ind.-based Wabash National. “Transcraft, like Wabash National, offers innovative products under a reputable and quality brand name. This acquisition is part of our commitment to expand our customer base and grow our market leadership.”