Project Description

The assets and operations of Blasters, Inc. (“Blasters”), a leading manufacturer of truck-mounted waterblasting equipment, have been acquired by Federal Signal Corporation (NYSE: FSS) (the “Company”), a leader in environmental and safety solutions.

Based in Tampa, Florida, Blasters designs, manufactures and sells the Liquidator®, an ultra-high pressure (“UHP”), water-based, road-marking and rubber-removal truck. Blasters also engages in the sale of certified pre-owned UHP waterblasting units and supports the recurring aftermarket needs of its customers through parts and service offerings.

Blasters’ depth of market and product knowledge, understanding of its customers’ specific requirements, and strong management team have allowed it to establish a differentiated position in the industry, and gain market share.

“The acquisition further bolsters our position as an industry-leading diversified industrial manufacturer of specialized vehicles for maintenance and infrastructure markets with leading brands of premium, value-adding products, and a strong supporting aftermarket platform,” said Jennifer L. Sherman, President and Chief Executive Officer. “The acquisition represents a strategic product line addition to Mark Rite Lines, which we acquired in 2019, thereby giving us the opportunity to cross-leverage both businesses’ robust market positions, and allowing us to serve our shared customer base with a comprehensive range of world-class products and solutions for road and surface infrastructure maintenance. We are excited to welcome Blasters’ talented team members to the Federal Signal family.”

“Blasters has grown significantly in recent years, establishing itself as a leading player in the waterblasting industry. I am thrilled to join forces with a highly strategic partner in Federal Signal and embark on the next phase of growth for the business,” said Scott F. Boos, Blasters’ President and CEO.

Philpott Ball & Werner, LLC served as exclusive financial adviser to Blasters, Inc.