Federal Signal Corp. signed a definitive agreement to sell E-ONE for approximately $20 million to American Industrial Partners. AIP has confirmed that E-ONE management will invest alongside AIP as significant shareholders of the company.

Jim Goodwin, interim CEO of Federal Signal said, "We are pleased to be nearing completion of this divestiture. The E-ONE employees in Ocala, Fla., have been a part of Federal Signal for many years. With a strong management team led by Peter Guile, and the experience of American Industrial Partners, I am confident that the future of E-ONE is in good hands and that they will be able to focus on continuing to build quality, innovative fire apparatus and growing their customer base."

The sale will include the exclusive North American distributorship for Bronto aerial devices.