Wabash National acquires Supreme Industries

Wabash National acquires Supreme Industries

Trailer manufacturer Wabash National Corp. and truck body manufacturer Supreme Industries, Inc. have entered into a definitive agreement under which Wabash National would acquire all of the outstanding shares of Supreme in a cash tender offer for $21 per share, which represents an equity value of $364 million and an enterprise value of $342 million.

The offer has been unanimously approved by Supreme Industries’ board of directors and the directors have indicated that they intend to accept the offer with respect to their own shareholdings.

Under the terms of the agreement, Supreme stockholders would receive $21 per share in cash, representing a premium of approximately 36% over Supreme’s closing Class A share price on Aug. 8 and approximately 33% over the past 30 trading days. An affiliate of Wabash will commence a tender offer to purchase for cash all of the outstanding shares of the company’s Common Stock for a total consideration of approximately $364 million. Certain officers, directors and other stockholders have agreed to tender their shares in the tender offer in an aggregate amount equal to approximately 20% of the outstanding shares as of this date and not withdraw such shares once tendered, subject to certain specified conditions.

Following the completion of the tender offer, Wabash will complete the merger and any remaining shares of the company will be converted into the right to receive the same price per share paid in the tender offer. The transaction is subject to satisfaction of customary closing conditions and regulatory approvals, including expiration or termination of the applicable waiting period under the HSR Act.

“This is a great opportunity for both companies to combine our strengths to provide an enhanced customer experience within the growing final mile delivery space,” said Dick Giromini, chief executive officer of Wabash National. “With Supreme, not only can Wabash National accelerate organic growth with our innovative DuraPlate, honeycomb panel and molded structural composite truck bodies, we can also provide a broader conventional product offering to our existing customer base.”

“Supreme’s board of directors negotiated and entered into this definitive agreement with Wabash National Corp. after considering a number of alternatives for maximizing stockholder value,” said Herbert Gardner, Supreme Industries’ chairman. “The board of directors of Supreme, having determined that the offer and the merger are advisable, fair to and in the best interests of Supreme and its stockholders, approved the agreement and plan of merger and the other transactions contemplated, including the tender offer, and recommended that Supreme’s stockholders accept the offer and tender their shares in the offer when it is made.”

You May Also Like

Bestpass hires new executives

The new hires are expected to help Bestpass scale service offerings and network integrations for commercial fleets and owner operators. 


Bestpass, a developer of toll management and safety solutions for commercial fleets, announced two additions to its leadership team. Bestpass welcomes Scott Chao (pictured above left), as chief marketing officer and Shay Demmons (right) as chief product officer. The company says these hires will aid in its commitment to scale service offerings and network integrations for commercial fleets and owner operators. 

Ford Trucks, Irdeto announce cybersecurity partnership

Irdeto will provide Ford Trucks with a fully managed key lifecycle management service.

ServiceTitan, Thumbtack integrate job management tech

The companies say this will let local service businesses manage booking requests and cut down on time toggling between platforms.

TechCelerate Now awarded phase 2 contract

The program aims to reduce accidents by speeding up the trucking industry’s adoption of ADAS systems.

Bosch introduces RevX dispatcher optimization tool

Aiming to reduce the number of empty miles driven, Bosh says RevX enables fleets to maximize revenue by efficiently booking optimal loads.


Other Posts

BeyondTrucks, Samsara announce free integration

The companies say customers can have their real-time data connected within a few clicks at no cost.

Continental’s ContiConnect Lite to allow digital tire management for OTR tires

Continental said ContiConnect Lite helps fleet managers monitor the condition of their tires via bluetooth.

Ten5 introduces hands-free voice assistant

The company says the technology will help decrease both distracted and dangerous driving, while giving fleet managers to communicate faster.

Isaac Instruments celebrates 25 years

While marking a quarter-century in business, ISAAC instruments is also celebrating 10 years exclusively focused on helping fleets succeed.