The all-cash deal was valued at $131 million, and the parties expect to close the deal by Sept. 30.

IMT, headquartered in Garner, Iowa, employs about 375 people, and anticipates that it will operate as a wholly owned subsidiary of Oshkosh Truck Corp.

“This is a great opportunity all-around for IMT,” said Steve Fairbanks, president of IMT. “Oshkosh’s acquisition strategy states that they acquire market leaders, and we are honored that we are seen in that light by a company as prestigious as Oshkosh. We look forward to learning from and sharing best practices with the portfolio of market-leading Oshkosh companies.”

Oshkosh Truck manufactures specialty commercial, fire and emergency, and military trucks, and truck bodies under the brand names Pierce fire trucks, McNeilus concrete mixers, Jerr-Dan wreckers and London concrete mixers. The company posted 2005 sales of $3 billion, and it employs more than 8,000 people worldwide.