In August 2023, Oshkosh Corporation (NYSE: OSK), a leading innovator of purpose-built vehicles and equipment acquired the AeroTech business (AeroTech) from JBT Corporation (NYSE: JBT) in an $800 million all-cash transaction. 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. Like Oshkosh, AeroTech offers products that make a difference in people’s lives by supporting those in our communities who do some of the toughest work. AeroTech owns 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 enhance overall growth and the margin profile for Oshkosh Corporation while broadening end markets and increasing recurring revenue streams.