2019 - Spartan - GTB

Spartan Motors has Acquired the Assets of General Truck Body, Inc.

THE TRANSACTION

On June 13, 2019, Spartan Motors, Inc., (NASDAQ: SPAR) ("Spartan" or the "Company"), the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries, as well as for the emergency response and recreational vehicle markets, announced that it has acquired the assets of General Truck Body, Inc. (“GTB”), a California-based, regional manufacturer of custom light and medium duty truck bodies.

The purchase of General Truck Body assets immediately expands Spartan Motors' truck body manufacturing operations into California while enhancing its refrigerated vehicle production capabilities and granting customers access to additional truck and van body types. Augmenting Spartan's recent East Coast expansion, the addition of this Southern California manufacturing and assembly facility increases the Spartan and Utilimaster product portfolio and effectively grants customers efficient, cost-competitive build-and-ship capabilities from coast-to-coast.

The GTB product portfolio and employees will join Spartan Motors under its Fleet Vehicles and Services (“FVS”) business unit, which is a leader in the fleet, commercial vehicle, and specialty service markets. FVS designs, engineers, and manufactures truck bodies, walk-in vans, highly customized global fleets, and vocation-specific upfits under the Utilimaster, Spartan Upfit Services, and Strobes-R-Us™ go-to-market brands. The business will assume the Utilimaster brand name on a go-forward basis. Utilimaster's Work-Driven Design® process blends customer needs with vocation-based vehicle and upfit solutions.

Our Client

SPARTAN MOTORS

Spartan Motors 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 employs approximately 2,300 associates, and operates facilities in Michigan, Indiana, Pennsylvania, South Carolina, Florida, Missouri, California, Nebraska, South Dakota; Saltillo, Mexico; and Lima, Peru. Spartan reported sales of $816 million in 2018. For more information visit www.spartanmotors.com.

Transaction Partner

GENERAL TRUCK BODY

GTB, headquartered in Montebello, California, has been manufacturing and assembling light to medium duty trucks since 1997. Going forward, the facility will be used to manufacture and assemble custom aluminum and composite-side truck bodies, refrigerated trucks, stake body trucks, curtain side and moving vans, last mile delivery vehicles and upfits, and other Work Driven Design™ vocational solutions across GVWR Classes 1-7 as part of Spartan's Fleet Vehicles and Services ("FVS") business unit. It will go-to-market under the Utilimaster brand. For more information, please visit utilimaster.spartanmotors.com.

CONTACT

Managing Director
Automotive & Truck