Oshkosh Corporation — parent of well-known construction brands JLG, McNeilus and IMT — and will buy Pratt Miller, which specializes in “advanced engineering, technology and innovation across the motorsport and multiple ground vehicle markets” for $115 million. Pratt Miller will maintain its name, team members, facilities and branding elements.
Founded in 1989 and headquartered in New Hudson, Michigan, Pratt Miller “has made significant advances in dynamic growth areas such as artificial intelligence, robotics, autonomous and connected systems and electrification,” says Oshkosh. With more than 300 employees, its heritage includes Corvette Racing and its robotic platforms are available in on- and off-road applications.
“We believe combining Pratt Miller’s engineering expertise with Oshkosh’s innovation and operational strengths will enable us to better serve customers and position our company for growth.” says John Pfeifer, Oshkosh president and COO.
“Pratt Miller’s motorsports heritage has created a culture of speed and agility that has defined our success. Oshkosh is an ideal partner for us to apply that mindset to some of the most significant challenges facing customers today,” says Matt Carroll, Pratt Miller CEO. “Together, we expect to grow our decade-long partnership and expand our pipeline of new business opportunities.”
The deal is expected to be final in the first quarter of 2021.