Wabash National Corp. is acquiring Supreme Industries Inc. (NYSE: STS), a supplier of commercial vehicles and related components, for approximately $364 million. The deal is intended to advance Wabash National into the final mile, or the last leg, of the delivery process.

Founded in 1974, Supreme is a U.S. manufacturer of light and medium-duty truck bodies. The Goshen, Indiana-based target has seven facilities throughout the United States. Supreme is one of the largest U.S. truck body suppliers with reports of $299 million in sales in 2016. The target serves a range of customers, including: national rental fleets, national and regional leasing companies, truck dealers and fleet operators.

“This is a great opportunity for both companies to combine our strengths to provide an enhanced customer experience within the growing final mile delivery space,” states Wabash National CEO Dick Giromini.

Lafayette, Indiana-based Wabash National is also an industrial manufacturer of semi-trailer and liquid transportation systems. The buyer sells its products across North America. With Supreme, Wabash National will be able “to accelerate organic growth” and will also be able to offer a “broader conventional product offering” as well. The buyer has been closely monitoring the transportation landscape as the growth of e-commerce has continued to change the logistics model.

Other truck and auto-related deals, include: Federal Signal Corp.’s (NYSE:FSS) agreement to buy Truck Bodies and Equipment International; Accuride Corp.’s (NYSE: ACW) purchase of parts manufacturer KIC LLC; Monroe Truck Equipment Inc.’s acquisition of equipment maker Towmaster Inc.; and W.W. Williams Co. LLC’s deal to buy parts provider Auto Safety House LLC. Baird is serving as financial adviser to Supreme, while Haynes and Boone LLP is acting as legal counsel.

Supreme Industries Inc.

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