The Shyft Group, Inc.,the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, has expanded its product portfolio with the acquisition of F3 MFG Inc., a leading, aluminium truck body and accessory manufacturer.

F3 will join the Shyft Specialty Vehicles business unit. It will continue to go-to-market under the DuraMag® and Magnum® brands.

F3 operations includes aluminium manufacturing, finishing, assembly, and installation of DuraMag contractor, service, and van bodies, as well as Magnum branded headache racks (also known as cab protection racks or rear racks). 

F3 sales grew at a compound annual growth rate of 74% from 2015 to 2019. In 2019, the company’s sales were approximately $25 million. 

"The F3 team has created tremendous momentum in a short amount of time, emphasizing innovation as a key element in its growth strategy and filling market gaps in the interest of meeting customer needs. We thank the management team for their efforts and welcome the full organization to The Shyft Group family," said Daryl Adams, President and Chief Executive Officer of The Shyft Group.

 "This acquisition dovetails nicely with last year's Royal Truck Body acquisition, and will provide our expanded national network of dealers, fleet managers, owners and operators the choice of two industry-leading brands and highly complementary product sets, wherever they do business."

"We are delighted to be joining the Shyft family of brands," said Bill Cleaves, F3 MFG, Founder.  "Shyft's leading reputation, approach to manufacturing and innovative culture are well aligned with F3.  Together, we are excited about the opportunities to grow the DuraMag and Magnum brands and see them distributed nationally."

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