The Shyft Group, Inc., headquartered in Novi, Michigan, and a North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service markets, has acquired Independent Truck Upfitters (ITU), a leading service body and work truck upfitter based in the Midwest. An example of an ITU service truck body is in the photo above.
"We are thrilled to welcome ITU to the Shyft Group family. ITU's unique products and capabilities are a fantastic complement to our existing portfolio, allowing us to offer even greater value to our collective customers," exclaimed John Dunn, the President and Chief Executive Officer of the Shyft Group. "We look forward to working with ITU's team members, customers, and suppliers as we accelerate our growth and strengthen our market position."
The acquisition of ITU aligns with Shyft's Specialty Vehicles infrastructure-focused growth strategy. ITU serves utility, construction, and fleet management companies with custom solutions, including bodies, crane packages, liftgates, and aftermarket accessories for commercial work trucks.
Specializing in larger vehicles and complex service body upfitting, ITU enables Shyft to enter new markets and capture a greater share of higher-class-sized products.
"We are excited to join the Shyft Group family," said Tim Craft, Chief Executive Officer of ITU. "Shyft's commitment to operational excellence and customer focus aligns well with ITU. We look forward to the opportunities this acquisition will bring for our customers and team members."
Shyft Group is organized into two core business units: Shyft Fleet Vehicles and Services and Shyft Specialty Vehicles. Today, its family of brands includes Blue Arc EV Solutions, Utilimaster, Royal Truck Body, DuraMag, Magnum, Strobes-R-Us, Spartan RV Chassis, Red Diamond Aftermarket Solutions, and Builtmore Contract Manufacturing.
It has approximately 3,000 employees and contractors across campuses and operates facilities in Arizona, California, Florida, Indiana, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo, Mexico. The company reported sales of $872 million in 2023. Learn more at www.TheShyftGroup.com.
ITU serves utility, construction, and fleet management companies, providing custom upfit solutions, including bodies, crane packages, liftgates, and aftermarket accessories for commercial work trucks. ITU operates out of three locations in Iowa, Michigan, and Missouri. Company website: www.ituinc.com.