Industry Update: Construction Machinery & Equipment

Industry Highlights

  • On May 30, 2023, Oshkosh Corporation, a leading innovator of purpose-built vehicles and equipment, entered into a definitive agreement to acquire the AeroTech business from JBT Corporation in an $800 million all-cash transaction. When adjusted for the present value of expected tax benefits of approximately $80 million, the purchase price is $720 million. This represents approximately 9x EBITDA multiple.
  • On May 23, 2023, Cummins Inc. announced that it entered into a definitive agreement with Faurecia, a company of the FORVIA Group, to purchase two of Faurecia’s commercial vehicle manufacturing plants and their related activities for approximately $153 million.

Past Industry Updates

Construction Machinery & Equipment: November 2022

Construction Machinery & Equipment: August 2022

Construction Machinery & Equipment: April 2022

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