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Strengthens key technologies and strategic growth opportunities
Oshkosh Corporation (NYSE:OSK), a leading innovator of mission-critical vehicles and essential equipment, today announced that it has entered into a definitive agreement to acquire Pratt Miller, which specializes in advanced engineering, technology and innovation across the motorsport and multiple ground vehicle markets, for 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.
Founded in 1989 and headquartered in New Hudson, Mich., 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.