Used fire engine prices jump 62% in 1 year in private equity-fueled ‘crisis’

(The Center Square) – Facing Pennsylvania lawmakers on Tuesday morning, a disgusted local fire company president held up a tee-shirt bearing the name of a fire truck manufacturer with a big red slash through the name of the company.

The symbolic move by Jim Capuzzi, president of Broomall Fire Company in Delaware County, came during a hearing in which Democratic lawmakers learned of a “crisis” of rapidly escalating prices and ever-longer delivery times in the market for fire engines, ladder trucks, and rescue vehicles. The root cause of the crisis, presenters said, was private equity’s domination of the industry – including the manufacturer named on the shirt.

“It’s hurt us, it’s hurt every fire company in this Commonwealth of Pennsylvania, and I think it’s hurt every fire company in the United States,” Capuzzi said.

Consolidation in the apparatus industry has winnowed a market that once had 24 players to one dominated by three manufacturers.

State Rep. ...