Oshkosh To Acquire Pratt Miller
16 December 2020
In a move to apparently enhance its electrification and robotic capabilities, Oshkosh Corp., Oshkosh, Wis., a manufacturer of mission-critical vehicles and essential equipment, today announced that it has entered into a definitive agreement to acquire Pratt Miller, New Hudson, Mich.
Oshkosh said Pratt Miller specializes in advanced engineering, technology and innovation across the motorsport and multiple ground vehicle markets. The deal was a cash-free, debt-free purchase price of $115 million. Additional terms of the transaction were not disclosed. Pratt Miller will maintain its name, team members, facilities, and branding elements. The transaction is expected to close in the first calendar quarter of 2021 and is subject to customary closing conditions.
Founded in 1989 and headquartered in New Hudson, Mich., Oshkosh said, “Pratt Miller brings over 30 years of experience solving its customers’ most complex and technical challenges. Led by its world-class engineering and motorsports heritage, Pratt Miller has made significant advances in dynamic growth areas such as artificial intelligence, robotics, autonomous and connected systems and electrification.”
Among the products listed on Pratt Miller’s website (https://www.prattmiller.com) are trackless moving targets, a variety of software, and flexible robotic platforms (pictured),
“We look forward to welcoming the Pratt Miller team to Oshkosh Corporation,” said John Pfeifer, Oshkosh president and chief operating officer. “We believe combining Pratt Miller’s engineering expertise with Oshkosh’s innovation and operational strengths will enable us to better serve customers and position our Company for growth.”
“Pratt Miller’s motorsports heritage has created a culture of speed and agility that has defined our success. Oshkosh is an ideal partner for us to apply that mindset to some of the most significant challenges facing customers today,” said Matt Carroll, Pratt Miller chief executive officer. “Together, we expect to grow our decade-long partnership and expand our pipeline of new business opportunities. We look forward to learning from one another and continuing to innovate to bring market-leading products to our customers.”
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