Trailer manufacturer Wabash National Corp. said Friday it has agreed to buy the tank and trailer business of Beall Corp., a maker of aluminum tank trailers and related equipment, for $15 million.
Wabash said it expects the acquisition of Beall, Portland, Ore., to be completed this quarter.
Beall began Chapter 11 reorganization in September, followed by a bankruptcy-court approved auction of its assets in December. Wabash was the winning bidder for certain assets of Beall’s tank and trailer business.
The acquisition “represents the latest step in our ongoing initiative to diversify outside of our core commercial trailer products business,” Wabash CEO Dick Giromini said in a statement.