Lion Truck Body has been acquired by GreenPower Motor Company Inc., which it said will provide more capacity for its EV (electric vehicle) customers.
Lion Truck Body of Torrance, California, is a designer and installer of a wide range of truck bodies for the construction, catering, landscaping, utility, and service sectors.
Its truck bodies include: dry-freight aluminum; refrigerated box; aluminum beds; stake bed; flatbed and; service body, and in its past fiscal year had revenues of $3.5 million.
GreenPower Motor Company—located in Vancouver, with locations in both Los Angeles and Porterville, California—is an electric cargo van and electric bus manufacturer, fabricating multiple models of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, and a double decker.
But the acquisition opens the door for a wider EV base.
"Our customers seek energy-efficient solutions that maximizes cargo capacity and delivery range. Lion Truck Body's expertise in bodybuilding with our EV Star CC addresses these requirements directly," said Brendan Riley, the President of GreenPower. "This acquisition provides our EV Star truck customers with many options for any number of body types required to meet their business needs with greater speed to market - completed in a few weeks versus taking months.”
He continued: "We have been working with Lion Truck Body for some time to make lightweight and efficient truck bodies for our EV Star as well as other models of electric trucks. We are pleased to add the Lion Truck Body franchise into our business."
GreenPower's purchase of Lion Truck Body is comprised of upfront cash payments totaling $215,000, the assumption of certain liabilities totaling approximately $1.45 million, and remaining cash payments of up to $25,000, which remain subject to customary adjustments and other post-closing conditions.
For information on Lion, visit www.liontruckbody.com.
Learn more about GreenPower at www.greenpowermotor.com.