Oshkosh Truck Corp. has signed an agreement with Iowa Mold Tooling Co. Inc. (IMT) to acquire the service truck manufacturer.
IMT is expected to operate as a subsidiary of Oshkosh Truck's commercial unit.
"This is a great opportunity all-around for IMT," says IMT President Steve Fairbanks.
"Oshkosh’s acquisition strategy states that they acquire market leaders, and we are honored that we are seen in that light by a company as prestigious as Oshkosh.
"We look forward to learning from and sharing best practices with the portfolio of market-leading Oshkosh companies."
Oshkosh Truck is a leading manufacturer of specialty commercial, fire, emergency and military trucks, in addition to truck bodies.
It employs more than 8,000 people worldwide and recorded sales of nearly $3 billion in 2005.
IMT is a portfolio company of American Capital Strategies Ltd.
