Ground Force in Post Falls agrees to be acquired by Chicago company

POST FALLS — A Chicago company and Ground Force Worldwide in Post Falls have signed a letter of intent on a $45 million cash deal wherein Federal Signal Corporation would acquire Ground Force.

Ground Force CEO and owner Ron Nilson said Wednesday he's "98 percent certain" the deal will go through but "no money has changed hands yet."

Nilson started Ground Force, now with more than 100 employees, in 2001. Ground Force manufactures specialty vehicles for the mining industry, including lube trucks, water trucks, dump bodies and rock-spreaders.

Federal Signal manufactures specialized vehicles for maintenance and infrastructure markets, the company said in a press release.

"The acquisition augments our current materials hauling portfolio by adding a range of specialty vehicles that support the extraction of metals, demand for which is expected to benefit from vehicle electrification and other green initiatives," said Jennifer L. Sherman, president and chief executive officer of Federal Signal. "The transaction provides opportunity for long-term value creation through operational improvement and organic growth initiatives, while also providing a platform for further acquisitions in this space. We are thrilled to welcome Ground Force's talented team members to the Federal Signal family."

Nilson echoed those sentiments.

"We are excited to be joining forces with Federal Signal and believe the combination of our two teams represents a natural cultural fit, with both companies exhibiting a shared vision of developing and maintaining strong local community connections," he said.

Ground Force Worldwide President Luke Stravros said finding the right partner has been the goal.

"Over the course of the last few years, we have been approached by several potential buyers, but we actively sought out Federal Signal as the right partner to drive the next phase of our growth, after consulting with other owners of businesses that have been acquired by Federal Signal," he said.

Federal Signal said it anticipates completing the transaction during the fourth quarter of 2021.

As for Nilson, a local philanthropist and strong community activist, selling his company doesn't mean he and wife Pam will leave the area.

"Once a spud, always a spud," he told The Press.