CHARLOTTE, Mich., Dec. 17, 2018 /PRNewswire/ -- Spartan
Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), a global
leader in specialty chassis and vehicle design, manufacturing, and
assembly, today announced it has acquired Strobes-R-Us, Inc., a
Florida-based, premier provider of
upfit services for government and non-government vehicles.
The acquisition will enable Spartan Motors to increase its
product offerings to both fleet and emergency response customers,
while further expanding its manufacturing capabilities into the
southeastern U.S. market. As part of this acquisition,
Spartan acquired Strobes-R-Us' state-of-the-art upfit facility and
product showroom in Pompano Beach,
Florida.
Strobes-R-Us will join the Spartan Motors company under its
Fleet Vehicles and Services (FVS) business unit, which is a leader
in the fleet, commercial vehicle, and specialty service
market. FVS engineers and manufactures truck bodies, walk-in
vans, highly customized global fleets, and vocation-specific upfits
under the Utilimaster and Spartan Upfit Services go-to-market
brands. Spartan's Work-Driven Design® process blends customer needs
with vocation-based vehicle and upfit solutions.
"We look forward to adding Strobes-R-Us' premier upfit services,
distribution network and world-class facility to our existing
manufacturing capabilities," said Daryl
Adams, President and Chief Executive Officer of Spartan
Motors. "The acquisition is expected to be accretive to 2019
earnings and will bring significant exposure to both fleet and
Emergency Response upfit services, a natural adjacent industry
segment, which will ultimately expand our addressable market for
FVS, both in breadth and geography."
Founded in 1999, Strobes-R-Us installs and distributes upfit
kits and lighting equipment, including light bars, interior
accessories, communication radios, MDT computer docks, and exterior
accessories for a diverse range of local, state, and federal law
enforcement agencies, municipal emergency response and service
vehicles, towing companies, construction companies, funeral service
fleets, utilities, and telecom providers.
"Much like Spartan, Strobes-R-Us provides value-added upfit
services to its customers and boasts the capabilities to customize
solutions for practically any vehicle, including special-purpose
custom vehicles," continued Adams. "We are thrilled to welcome
Strobes-R-Us' experienced team members to our Spartan family, as
they are well-known for high-quality installations, outstanding
customer service, and fast turnaround times. Strobes-R-Us'
strong portfolio of advanced custom lighting and storage options,
alongside Spartan's scale and reach, will ultimately enhance our
collective offerings across industries and benefit our respective
customers."
About Spartan
Motors
Spartan Motors, Inc. is a leading designer, engineer, manufacturer,
and marketer of a broad range of specialty vehicles, specialty
chassis, vehicle bodies, and parts for the fleet and delivery,
recreational vehicle (RV), emergency response, defense forces, and
contract assembly (light/medium duty truck) markets. The Company's
brand names — Spartan Motors, Spartan Specialty Vehicles, Spartan
Emergency Response, Spartan Parts and Accessories, Smeal, and its
family of brands, including Ladder Tower™ and UST®; and
Utilimaster®, a Spartan Motors Company — are known for quality,
durability, performance, customer service, and first-to-market
innovation. The Company employs approximately 2,300 associates, and
operates facilities in Florida,
Michigan, Indiana, Pennsylvania, Missouri, Nebraska, South
Carolina, South Dakota;
Saltillo, Mexico; and Lima, Peru. Spartan reported sales of
$707 million in 2017. Visit Spartan
Motors at www.spartanmotors.com.
This release contains several forward-looking statements that
are not historical facts, including statements concerning our
expectations regarding the future performance of Strobes-R-Us
business and its effect on our business, strategic position,
financial projections, financial strength, future plans,
objectives, and the performance of our products and
operations. These statements can be identified by words such
as "believe," "expect," "intend," "potential," "future," "may,"
"will," "should," and similar expressions regarding future
expectations. These forward-looking statements involve various
known and unknown risks, uncertainties, and assumptions that
are difficult to predict with regard to timing, extent, and
likelihood. Therefore, actual performance and results may
materially differ from what may be expressed or forecasted in such
forward-looking statements. Factors that could contribute to these
differences include difficulties we may encounter in integrating
the Strobes-R-Us business with Spartan's existing business;
operational and other complications that may arise affecting the
implementation of our plans and business objectives; continued
pressures caused by economic conditions and the pace and extent of
the economic recovery; issues unique to government contracting,
such as competitive bidding processes, qualification requirements,
and delays or changes in funding; changes in our relationships with
major customers, suppliers, or other business partners; changes in
the demand or supply of products within our markets or raw
materials needed to manufacture those products; and changes in laws
and regulations affecting our business. Other factors that
could affect outcomes are set forth in our Annual Report on Form
10-K and other filings we make with the Securities and Exchange
Commission (SEC), which are available at
www.sec.gov or our website. All
forward-looking statements in this release are qualified by this
paragraph. Investors should not place undue reliance on
forward-looking statements as a prediction of actual results.
We undertake no obligation to update or revise any forward-looking
statements in this release, whether as a result of new information,
future events, or otherwise.
CONTACT:
Investors:
Juris Pagrabs
Group Treasurer & Director of Investor Relations
Spartan Motors, Inc.
(517) 997-3862
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SOURCE Spartan Motors, Inc.