Wabash National To Divest Aviation & Truck Equipment Business To AFI Partners

(RTTNews) - Wabash National Corp. (WNC) said that it is selling its Aviation and Truck Equipment or AVTE business to Garsite Progress, LLC, an entity formed by AFI Partners, a New York-based private equity firm, with the transaction effective today.

AVTE, based in Kansas City, Kansas, was added to Wabash National's Diversified Products Group portfolio via the acquisition of Walker Group Holdings in 2012. AVTE includes the Progress Tank brand of truck-mounted tanks for fuels, oil and waste, as well as Garsite branded aircraft refueling equipment. Both businesses will continue operations under ownership of AFI Partners.