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Federal Signal Corporation

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For the railway signal manufacturer, see Federal Signal Company.
Federal Signal Corporation
Company typePublic
NYSE: FSS
S&P 600 component
IndustryPublic safety
Founded1901
HeadquartersOak Brook, Illinois, United States
Key people
Jennifer Sherman, President & CEO
ProductsEmergency vehicle equipment, warning sirens and public safety systems
RevenueIncrease$1 billion+ USD (reference: 2018 10K)
Number of employees
~3,300
Websitehttps://www.federalsignal.com

Federal Signal Corporation is an American manufacturer headquartered in Oak Brook, Illinois. Federal Signal manufactures street sweeper vehicles, public address systems, emergency vehicle equipment, and emergency vehicle lighting.

The company operates two groups: Federal Signal Environmental Solutions and Federal Signal Safety and Security Systems. Federal Signal Environmental Solutions Group manufactures street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro excavators, waterblasting equipment, dump truck bodies, and trailers. Federal Signal Safety and Security Systems Group manufactures campus alerting systems, emergency vehicle lighting, emergency sirens, alarm systems, outdoor warning sirens, and public address systems.

Currently, the company has 14 manufacturing facilities in 5 different countries.[1]

History

Federal Signal was founded in Chicago, Illinois, as the Federal Electric Company in 1901 by brothers John and James Gilchrist and partner John Goehst, manufacturing and selling store signs lit by incandescent lamps. By 1915, they began manufacturing and selling electrically operated mechanical sirens (such as the Q Siren and the Model 66 Siren). During this time, Federal Electric came under the ownership of Commonwealth Edison, eventually becoming a part of the utility empire of Samuel Insull.[2]

By the 1950s, the company was manufacturing outdoor warning sirens, most notably the Thunderbolt series, primarily intended for warning of air raid attacks or fallout during the Cold War.[3] Many of these sirens have been removed, but some still are operating in tornado siren systems. Longtime engineer Earl Gosswiller patented the Beacon-Ray and TwinSonic products, which were popular emergency vehicle lightbars.

In 1955, the company became a corporation, renaming itself "Federal Sign and Signal Corporation" [citation needed]. By this time, it made outdoor warning sirens, police sirens, fire alarms, and outdoor lighting.

By 1961, Federal Sign and Signal had gone public, trading on the NASDAQ market. This was when new products started being manufactured and sold, such as the Federal Signal Model 2. In 1976, the company became Federal Signal Corporation.

On Feb 22, 2000, Federal Signal Corporation announced the signing of a definitive agreement for the acquisition of P.C.S. Company.[4]

On June 27, 2005, Federal Signal Corporation announced the signing of a joint venture agreement to establish a Chinese company, Federal Signal (Shanghai) Environmental & Sanitary Vehicle Company Limited, based near Shanghai, China.[5]

On February 29, 2016, Federal Signal announced the signing of a definitive agreement for the acquisition of Canada's largest infrastructure-maintenance equipment supplier Joe Johnson Equipment (1), and the rights to the name and company.[6]

On May 8, 2017, Federal Signal announced the acquisition of Truck Bodies and Equipment International (TBEI), making it the owner of six dump body and trailer brands, including Crysteel, Duraclass, Rugby Manufacturing, Ox Bodies, Travis and J-Craft.[7][8]

On July 2, 2019, Federal Signal completed the acquisition of the assets and operations of Mark Rite Lines Equipment Company, Inc., a manufacturer of road-marking equipment. along with HighMark Traffic Services, Inc., which provides road-marking services in Montana. The signing of the purchase agreement was previously announced on May 14, 2019.[9]

On November 17, 2022, Federal Signal announced the signing of a definitive agreement to acquire substantially all the assets and operations of Blasters, Inc. (“Blasters”), a leading manufacturer of truck-mounted waterblasting equipment, for an initial purchase price of $14 million, subject to post-closing adjustments. In addition, there is a contingent earn-out payment of up to $8 million. [10]

See also

References

  1. ^ "Who We Are". Federal Signal. Retrieved 3 September 2019.
  2. ^ "Federal Signal Corp". Company Histories. Retrieved 14 May 2015.
  3. ^ "Thunderbolt Siren Series". wiki.airraidsirens.net. Retrieved 2020-11-27.
  4. ^ "Federal Signal Annual Report, 2001, See note K". SEC.gov. September 3, 2019.
  5. ^ "Federal Signal Corporation Announces Establishment of Federal Signal Environmental & Sanitary Vehicle Company, Ltd". The Free Library. Archived from the original on October 31, 2014.
  6. ^ "Federal Signal Executes Agreement to Acquire Joe Johnson Equipment". PR Newswire. Retrieved 13 May 2016.
  7. ^ "Federal Signal Executes Agreement to Acquire Truck Bodies and Equipment International". Federal Signal Corporation. Retrieved 2020-11-13.
  8. ^ "Federal Signal to Acquire Truck Bodies and Equipment International". For Construction Pros Magazine. Retrieved 2020-11-13.
  9. ^ "Federal Signal Completes Acquisition of Mark Rite Lines Equipment Company, Inc" (PDF). Federal Signal. July 2, 2019.
  10. ^ "Federal Signal to Expand its Specialty Vehicle Platform by Executing Agreement to Acquire Blasters, Inc". Federal Signal. November 17, 2022.
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