Oshkosh Corporation , a leading innovator of mission-critical vehicles and essential equipment, has announced that it has entered into a denitive agreement to acquire Pratt Miller.

The company specialise 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 to maintain staff members

The company will maintain its name, team members, facilities and branding elements. Founded in 1989 and headquartered in New Hudson. They brings over 30 years of experience solving its customers’ most complex and technical challenges.

Led by its world-class engineering and motorsports heritage, they have made signicant advances in dynamic growth areas such as artificial intelligence, robotics, autonomous and connected systems and electrication.

“We look forward to welcoming the Pratt Miller team to Oshkosh Corporation,” said John Pfeifer, Oshkosh Corporation 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 dened our success. Oshkosh is an ideal partner for us to apply that mindset to some of the most signicant challenges facing
customers today,” said Matt Carroll, Pratt Miller Chief Executive Officer.

“Together, we expect to grow our decadelong 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.”

The transaction is expected to close in the first calendar quarter of 2021 and is subject to customary closing conditions.