The Shyft Group, a North American company specializing in vehicle manufacturing, assembly, and upfit for commercial, retail, and service markets, announced the acquisition of Independent Truck Upfitters (ITU), a service body and work truck upfitter based in the Midwest. This move is expected to enhance the Shyft Group’s capabilities across its specialty vehicle product portfolio and expand its market position.
John Dunn, president and CEO of the Shyft Group, expressed enthusiasm about the acquisition. “We are thrilled to welcome ITU to the Shyft Group family. ITU’s unique products and capabilities complement our existing portfolio, allowing us to offer even greater value to our collective customers,” he said in a press release.
Dunn also highlighted the potential for growth and strengthened market position this acquisition brings to the Shyft Group.
Independent Truck Upfitters 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.”
Tim Craft, CEO of ITU, shared his excitement about joining the Shyft Group. “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,” Craft said.
The Shyft Group is known for its quality in the specialty vehicle market. Its diverse customer base includes first-to-last mile delivery companies, federal, state, and local government entities, trades, and utility and infrastructure segments. The company operates through two core business units: Shyft Fleet Vehicles and Services and Shyft Specialty Vehicles.
The Shyft Group’s 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.
With approximately 3,000 employees and contractors across multiple facilities in the U.S. and Mexico, the Shyft Group reported sales of $872 million in 2023.
For more information about The Shyft Group, visit theshyftgroup.com.
