Oshkosh president and CEO John C Pfeifer said: “We are pleased to complete the acquisition of Pratt Miller, an organisation led by its world-class engineering and motorsports heritage.
“This acquisition will allow us to leverage Pratt Miller’s experience and innovation in areas such as artificial intelligence, robotics, autonomous and connected systems and electrification, positioning our Company for future growth.”
As earlier agreed, Pratt Miller will retain its brand name, team members, facilities and other elements.
IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in.
Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year.
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Macroeconomic and demographic environment
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