Federal Signal Corporation News

E-ONE Announces Sale Agreement

OCALA, Fla., July 16 PRNewswire — The management team of E-ONE, Inc. and American Industrial Partners (AIP), a leading middle market private equity firm, announce a definitive agreement for the purchase of E-ONE from Federal Signal Corporation. As a result of the purchase, E-ONE will become a privately-held company backed by AIP. The E-ONE management team will invest alongside AIP as significant shareholders in the Company.

"We are delighted to have partnered with AIP," stated Peter Guile, CEO of E-ONE, "AIP has demonstrated a deep understanding of the specialty vehicle market and brings a wealth of expertise in support of the E-ONE team. The E-ONE management team, with investment in the Company, has reinforced its commitment to the long-term success of E-ONE. This transaction will be beneficial to customers, dealers and employees alike as we work with AIP to strengthen our operations and continue to invest in technologies and provide industry leading fire apparatus and mission-critical vehicles."

Guile continued, "With many talented employees, strong dealers, and loyal customers, E-ONE has maintained a longstanding reputation as a leader in the fire apparatus industry. We are exceptionally pleased with the new ownership agreement and see a bright future ahead for E-ONE fire apparatus."

E-ONE will continue to be the exclusive supplier of Bronto articulating aerial platforms for the North American fire rescue market and integrate Federal Signal public safety interoperable software into our Comms-ONE and larger command vehicles.

About E-ONE:

As a leading manufacturer of first responder vehicles, E-ONE engineers, manufactures and markets mission-critical vehicles including custom and commercial pumpers, rescues and tankers, aerial ladders and platforms, command and communication vehicles, quick attack units, industrial trucks, and aircraft rescue firefighting vehicles. The company sells its products world- wide and is headquartered in Ocala, Florida. E-ONE is an ISO 9001 registered manufacturer. For more information on E-ONE, visit http://www.e-one.com. When lives are in the balance and seconds count.

About American Industrial Partners:

American Industrial Partners is a leading middle market private equity firm that makes control equity investments in mid-sized industrial companies that can benefit from the firm's systematic approach to implementing strategic and operational improvements. AIP was founded in 1989 and has managed three prior investment funds which total over $1 billion of equity capital. AIP is currently investing its fourth fund. For more information, visit http://www.aipartners.com or American Industrial Partners can be reached at 212-627-2360.

SOURCE E-ONE, Inc.

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