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

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(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. Jennifer O'Mara said she and other lawmakers were "flabbergasted" to hear stats presented at the session. They were told the average price of a new apparatus has gone from less than $400,000 to more than $1 million over roughly 15 years or less. One presenter said there has been a one-year increase from $205,000 to $333,000 - or 62% - in the average price of a used fire engine.

A ladder truck and a long row of yellow and black firefighting outfits were part of the backdrop for the session held in the Springfield Fire Company in Delaware County by the House Democratic Policy Committee. Policy committee hearings typically focus on topics that may become the subject of future legislation.

O'Mara said she was working on a bill.

Private equity's rapid takeover of the fire apparatus-manufacturing business, O'Mara said, was "a disgusting economic impact on the very people that are trying to save us."

The state fire commissioner's office oversees a Fire and Emergency Medical Services Loan Program that makes low-interest, 2% loans to help companies buy fire trucks. Deputy State Fire Commissioner J.C. Tedorski said the office reviews an average of seven applications per month, but loans are capped at half the cost of the overall truck purchase.

"Over the past 15 years, private equity firms have increasingly pursued a strategy known as a 'roll-up,' in which they acquire multiple competitors in a fragmented industry and consolidate them under a single corporate structure," Tedorski said. "While this strategy can improve efficiency in some sectors, its application in essential service markets - such as fire apparatus manufacturing - raises serious concerns about competition, cost, and public safety."

Gov. Josh Shapiro included in his 2026-27 proposed budget a $30 million expenditure for fire department grants. Should that money make it into the final budget deal, Tedorski said, it would allow fire companies to carry out "larger-ticket projects."

The crisis is having real-world effects, said Kevin Ressler, recording secretary for the Pennsylvania Professional Fire Fighters Association.

Fire companies hang on to older equipment; the equipment ages further and falls out of compliance or may need repairs; and then it is taken out of service. One ripple effect, Ressler said, is "slower response times to life and death emergencies."

Beyond that, focusing all money on equipment because it is escalating in price means less money to spend on staff.

"This creates a public safety risk,' Ressler said.