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The Shyft Group has acquired aluminum truck body and accessory manufacturer F3 MFG Inc., it was announced Oct. 1.
F3 will continue to go to market under its DuraMag and Magnum brands. The Shyft Group (formerly Spartan Motors) said the acquisition adds lightweight and durable aluminum service, platform and van bodies to its product portfolio. F3 will be integrated into its specialty-vehicles business unit.
“The F3 team has created tremendous momentum in a short amount of time, emphasizing innovation as a key element in its growth strategy and filling market gaps in the interest of meeting customer needs,” Shyft CEO Daryl Adams said in a statement. “We thank the management team for their efforts and welcome the full organization to The Shyft Group family.”
Welcome to the family.
The Shyft Group welcomes F3 Manufacturing and its DuraMag brand to its family of specialty vehicle solutions. To learn more about our exciting new acquisition, go to: https://t.co/sUHErZIUdy#SHYFTfamily#SHYFTforward pic.twitter.com/GFvk6BIO3y
— The Shyft Group (@TheShyftGroup) October 1, 2020
The Shyft Group, based in Novi, Mich., provides specialty-vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty-vehicle markets.
“This acquisition dovetails nicely with last year’s Royal Truck Body acquisition, and will provide our expanded national network of dealers, fleet managers, owners and operators the choice of two industry-leading brands and highly complementary product sets, wherever they do business,” Adams said.
The Shyft Group said the acquisition will allow expanding its manufacturing and distribution footprint nationwide. It also will supplement existing aftermarket business with light-truck aluminum accessories.
“We are delighted to be joining the Shyft family of brands,” F3 founder Bill Cleaves said in a statement. “Shyft’s leading reputation, approach to manufacturing and innovative culture are well-aligned with F3.” — Transport Topics
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