Federal Signal (FSS) said Wednesday that it has completed the acquisition of Waterblasting, the owner of Hog Technologies, a manufacturer of truck-mounted road-marking, line-removal and waterblasting equipment, for an initial price of $78.1 million.

The deal is subject to customary working capital and debt-like adjustments, as well as earn-out provisions that could pay out up to $15 million more if Hog Technologies meets certain financial targets, Federal Signal said.

Federal Signal also said it has signed a definitive agreement to acquire Hog's primary manufacturing facility in Stuart, Florida, for $14.5 million.

Federal Signal said it expects the acquisition to be accretive to earnings and cash flow this year.