TODAY'S PAPER
Few Clouds 32° Good Evening
Few Clouds 32° Good Evening
Business

Dejana Truck to be acquired for $206 million

Dejana Truck and Utility Equipment's corporate offices on

Dejana Truck and Utility Equipment's corporate offices on Pulaski Road in Kings Park. Photo Credit: Google Earth

Dejana Truck and Utility Equipment, a closely held Kings Park maker of specialized truck bodies that are fitted on chassis made by Ford and other automakers, has agreed to be acquired by Milwaukee-based Douglas Dynamics Inc. for $206 million.

Dejana employs about 500 people in five states and sells its trucks to utility, energy, telecommunications and transportation companies.

The 59-year-old Long Island company posted net sales of $145 million over the 12 months ended March 31.

Peter Dejana started the company in 1957 as a service station in Huntington. His chance meeting with a New York Telephone Co. executive led to him servicing that company’s trucks.

Dejana maintains seven facilities with 240,000 square feet of work space on the East Coast: two on Long Island, in Kings Park and Huntington; plus locations in Smithfield, Rhode Island; Cinnaminson, New Jersey; Red Hill, Pennsylvania, and two in Baltimore.

The acquisition, announced Thursday, is subject to regulatory approvals and is expected to close during the third quarter of 2016.

“The addition . . . will significantly strengthen our position as a premier manufacturer and up-fitter of vehicle attachments and equipment,” James L. Janik, president and chief executive of Douglas Dynamics, said in a statement. “The deal provides a new complementary portfolio of services and products to drive deeper customer relationships, and expands our geographic footprint in the Eastern U.S.”

Once the deal is completed, the Dejana management team, including its president, Andrew Dejana, son of the founder, will continue to lead Dejana.

More news

Sorry to interrupt...

Your first 5 are free

Access to Newsday is free for Optimum customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE