Oshkosh Buys AK Specialty Vehicles

Posted on June 26, 2006

Oshkosh Truck Corp.’s expanding specialty vehicle business added another member with the announcement that the Oshkosh, Wis. manufacturer will acquire all the stock and membership interests of AK Specialty Vehicles, a manufacturer of mobile medical, homeland security command and communications, and broadcast vehicles. AK was purchased from Healthtronics, Inc. in a cash transaction worth approximately $140 million.

Oshkosh said the acquisition is expected to further diversify its business in the global specialty truck industry, strengthen its position within the homeland security industry for command and communications vehicles and continue its expansion in the European specialty vehicle market.

AK Specialty Vehicles markets its mobile medical vehicles under the AK Specialty brand to North American medical centers and service providers. It is certified by all major original equipment manufacturers of mobile medical imaging equipment - GE, Philips and Siemens. In Europe, its mobile medical vehicles are marketed under the SMIT brand. Mobile medical vehicles carry such equipment as mammography machines, catheterization labs and MRI machines.

Frontline is AK Specialty Vehicles' leading brand in the broadcast vehicle and command and communications vehicle industry, where the company markets a full line of television broadcast, satellite news gathering and microwave transmission electronic news gathering vehicles to broadcasters, TV stations, radio stations, and NASA.

AK Specialty also has range of customized command and communications vehicles targeted for federal, state, and local governments, law enforcement, fire service and the military applications. Customers include the Federal Emergency Management Agency (FEMA), the U.S. Navy, the New York Police Department and the FBI.

AK Specialty Vehicles is expected to operate as a wholly-owned subsidiary of Oshkosh Truck Corp. and be part of the corporation's fire and emergency business. Completion of the transaction is subject to certain customary conditions, and is expected to occur in July 2006.