Oshkosh (NYSE: OSK) has agreed to acquire engineering company Pratt Miller for approximately $115M in a debt- and cash-free transaction.
Pratt Miller will retain its name, branding, team members and facilities and Oshkosh said Tuesday it expects the transaction to close during the first quarter of calendar year 2021, subject to customary closing conditions.
Established in 1989, New Hudson, Michigan-based Pratt Miller is an engineering and product development company that has made advances in robotics, artificial intelligence, connected and autonomous systems and electrification.
John Pfeifer, president and chief operating officer of Oshkosh, said the transaction will allow Oshkosh to combine its operational strengths with Pratt Miller’s engineering expertise to better support clients and advance growth initiatives.
