Federal Signal Corp. will sell E-One to American Industrial Partners for approximately $20 million, reports the Ocala Star-Banner. Members of Federal Signal's management team also will invest in the company.

Walter Liptak, an analyst who covers Federal Signal for Barrington Research, told the paper, "That's a lower price than what we expecting. It's a tough market for doing a divestiture like this."

The sale will close within 30 days.