Wabash National To Acquire Supreme Industries

By Mike Brezonick09 August 2017

Supreme Industries, Inc. a Goshen, Ind.-headquartered manufacturer of specialized commercial vehicles including truck bodies and specialty vehicles, announced it has entered into a definitive agreement for the company to be acquired by Wabash National Corp, a manufacturer of semi-trailer and liquid transportation systems. Wabash, headquartered in Lafayette, Ind., will pay approximately $364 million in the transaction, which has been unanimously approved by Supreme Industries’ board.

“Supreme’s board of directors negotiated and entered into this definitive agreement with Wabash National Corp. after considering a number of alternatives for maximizing stockholder value,” said Supreme Industries’ Chairman Herbert M. Gardner. “The board of directors of Supreme, having determined that the offer and the merger are advisable, fair to, and in the best interests of Supreme and its stockholders, approved the agreement and plan of merger and the other transactions contemplated, including the tender offer, and recommended that Supreme’s stockholders accept the offer and tender their shares in the offer when it is made.”

Under the terms of the agreement, Supreme stockholders would receive $21.00 per share in cash, representing a premium of approximately 36% over Supreme’s closing Class A share price on Aug. 8 and approximately 33% over the past 30 trading days.

“This is a great opportunity for both companies to combine our strengths to provide an enhanced customer experience within the growing final mile delivery space,” said Dick Giromini, Wabash National’s chief executive officer. “With Supreme, not only can Wabash National accelerate organic growth with our innovative DuraPlate, honeycomb panel and molded structural composite (MSC) truck bodies, we can also provide a broader conventional product offering to our existing customer base.”

 

MAGAZINES
Latest News
Freightliner all-electric eCascadia enters series production
Daimler Truck’s Freightliner brand announces all-electric vehicle will enter series production in North America in 2022
Hydrogen compression test facility
SIAD MI opens hydrogen compressor testing in Italy 
Eaton’s circuit protection combination enhances EV protection
Battery disconnect unit (BDU) plus Breaktor circuit protection combine to protect electrified vehicles