OSHKOSH, WI (WTAQ-WLUK) – Oshkosh Corporation will acquire an aerospace company, launching it into the air transportation support market.
The definitive agreement between Oshkosh and AeroTech is an $800 million all-cash transaction. When adjusted for the present value of expected tax benefits of approximately $80 million, the purchase price is $720 million.
AeroTech is a leading provider of aviation ground support products, gate equipment and airport services to commercial airlines, airports, air-freight carriers, ground handling and military customers.
They own many of the most trusted brands in the air transportation industry with systems in the field that serve approximately 75% of air travelers at U.S. airports and load approximately 70% of the world’s overnight express packages.
The acquisition is expected to close in the third quarter of 2023, subject to regulatory approval and customary closing conditions.
Upon close, AeroTech will become part of the Oshkosh Vocational segment.
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