Federal Signal completes New Way Trucks acquisition; raises 2025 net sales outlook
Federal Signal closed its acquisition of New Way Trucks on November 25, 2025, paying an initial $396 million plus $30 million for New Way's Iowa and Mississippi facilities and real estate rights, subject to adjustments. With the deal complete, the company raised its full-year 2025 net sales outlook to $2.12 billion to $2.16 billion and its adjusted EPS outlook to $4.12 to $4.20, though it expects the acquisition to be neutral to 2025 adjusted EPS.
- Initial purchase price of $396 million for New Way, plus $30 million for its manufacturing facilities and real estate rights, subject to closing and post-closing adjustments
- Acquisition completed November 25, 2025, under the Equity Purchase Agreement signed in September 2025
- Full-year 2025 net sales outlook raised to $2.12 billion to $2.16 billion, from $2.10 billion to $2.14 billion
- Full-year 2025 adjusted EPS outlook raised to $4.12 to $4.20, from $4.09 to $4.17; New Way backlog in excess of $100 million