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Oshkosh Corporation Acquires AeroTech
September 14, 2023

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.
About Oshkosh AeroTech
Leveraging a global presence and decades of expertise, Oshkosh AeroTech delivers leading technology solutions and aftermarket customer care through a diverse range of product lines, including LEKTRO®, Ranger™, Jetway®, JetAire®, Jetpower®, AmpCart™, Tempest-i™, Commander® and more. Combined with the robust capabilities of Oshkosh Corporation, Oshkosh AeroTech streamlines ground operations for airports, airlines, ground handlers, and the military, addressing current needs and advancing the future of the aviation industry. For more information, visit www.oshkoshaerotech.com.
About Oshkosh Corporation
At Oshkosh (NYSE: OSK), we make innovative, purpose-built vehicles and equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs over 18,000 team members worldwide, all united behind a common purpose: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, MAXIMETAL, Oshkosh® S-Series™, McNeilus®, IMT®, Jerr-Dan®, Frontline™ Communications, Oshkosh® Airport Products, Oshkosh AeroTech™, Oshkosh® Defense and Pratt Miller. For more information, visit oshkoshcorp.com.
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
Forward Looking Statements
This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions, and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission.
All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.