REV Group explained

REV Group, Inc.
Former Name:Allied Specialty Vehicles[1]
Type:Public
Traded As:[2]
Russell 2000 Component
Location City:Brookfield, Wisconsin
Location Country:United States[3]
Key People:Mark Skonieczny
Industry:Automotive
Products:Ambulances, buses, firefighting vehicles, recreational vehicles
Num Employees:6,873

REV Group, Inc. (formerly Allied Specialty Vehicles) is an American manufacturer of ambulances, buses, commercial vehicle, firefighting vehicles, recreational vehicles and other specialty vehicles, as well as aftermarket parts and services. It provides vehicles and services for public fire departments and emergency services, as well as commercial infrastructure and leisure vehicles for consumers.

Founded in 2010, the company encompasses 24 brands. It went public in January 2017 and is listed as REVG on the New York Stock Exchange.

History

Allied Specialty Vehicles was formed in 2010 from the merger of four companies owned by American Industrial Partners: Collins Industries, E-ONE, Halcore Group, and Fleetwood Enterprises.[4] Allied Specialty Vehicles changed its name to REV Group in November 2015 In January 2017, the company went public with ticker symbol REVG.[5] [6]

Acquisitions and divestitures

In September 2010, ASV acquired the assets of ambulance manufacturer Road Rescue from Spartan Motors.[7] [8] REV Group purchased SJC Industries from Thor Industries in May 2013. It is a manufacturer of ambulances under the brand names McCoy Miller and Marque.[9] [10] A week later, it was announced that ASV was purchasing the RV assets of Navistar International, which include Monaco, Holiday Rambler, R-Vision and the Beaver and Safari brands.[11] [12] In August 2013, ASV announced the purchase of Thor Industries' bus businesses, including the ElDorado Motor Corp., National Coach, Champion Bus, and Goshen Coach companies.[13]

In April 2016, REV Group acquired fire truck manufacturer Kovatch Mobile Equipment Corp.[14] Later that year, REV Group acquired Ferrara Fire Apparatus[15] [16] and Class C motorhome manufacturer[17] Renegade RV.[18] In April 2017, the company acquired sprinter van manufacturer Midwest Automotive Designs.[19]

In January 2018, REV Group acquired California-based Lance Camper. Lance was founded in 1965 and manufactures truck campers and towable RVs.[20] REV Group announced its acquisition of Spartan ER, a subsidiary of Spartan Motors, in February 2020.[21] REV Group sold its shuttle bus brands Champion, Federal Coach, World Trans, Krystal Coach, ElDorado and Goshen Coach to Forest River in May 2020.[22]

In January 2024, REV announced it would be exiting the bus manufacturing business. The company reached an agreement to sell its Collins school bus brand to Forest River for $303 million. The company plans to wind down operations at its ENC transit bus division by the end of October.[23]

Corporate structure

REV Group has around 6,800 employees. Its CEO is Mark Skonieczny.[24] 24 brands are part of REV Group's portfolio.

REV Group Brands[25] !Company name!Location!Product lines
Commercial Vehicle Brands
CapacityLongview, TexasTerminal tractors
ENCRiverside, CaliforniaTransit buses
LayMorLongview, TexasStreet sweepers
Fire Vehicle Brands
E-ONEOcala, FloridaFirefighting apparatus
Kovatch Mobile Equipment (KME)Holden, LouisianaFirefighting apparatus
Ferrara Fire ApparatusHolden, LouisianaFirefighting apparatus
Ladder Tower Company (LTC)Ephrata, PennsylvaniaLadder trucks
Smeal Fire ApparatusSnyder, NebraskaFirefighting apparatus
Spartan Emergency ResponseBrandon, South DakotaFirefighting apparatus
Spartan Fire ChassisCharlotte, MichiganFirefighting apparatus
Emergency Vehicle Brands
American Emergency Vehicles (AEV)Jefferson, North CarolinaAmbulances (Type I, II, III)
Horton AmbulanceGrove City, OhioAmbulances (Type I, II, III)
Leader Emergency VehiclesSouth El Monte, CaliforniaAmbulances (Type II, III)
Road RescueWinter Park, FloridaAmbulances (Type I, II, III)
Wheeled CoachWinter Park, FloridaAmbulances (Type I, II, III)
Recreational Vehicle Brands
American CoachDecatur, IndianaClass A luxury motorhomes
Fleetwood EnterprisesDecatur, IndianaClass A, motorhomes
Goldshield FiberglassDecatur, IndianaMolded fiberglass manufacturing
Holiday RamblerDecatur, IndianaClass A motorhomes
Lance CamperLancaster, CaliforniaTruck campers, travel trailers
Midwest Automotive DesignsElkhart, IndianaClass B motorhomes
Renegade RVBristol, IndianaLuxury motorhomes

Brands

Fire

REV Fire Group's Vector fire truck is the first full-electric North American fire truck.[26] It has been ordered in Charlotte, North Carolina,[27] Varennes, Quebec, and Mesa, Arizona,[28] and Toronto, Canada,[29] and was used in the 2023 Daytona 500.[30]

E-ONE

E-ONE was acquired by REV Group's in 2010 as its first fire apparatus manufacturer and is headquartered in Ocala, Florida.[31] According to Buffalo Business First, E-ONE manufactures "stainless steel fire trucks, mostly tankers and pumpers" and its customers include both volunteer and municipal fire departments.[32] In November 2021, E-ONE was contracted by the city of Mesa, Arizona to build the first fully-electric firetruck in North America.[33] As of February 2022, the company's Hamburg, New York plant employs around 100 people and produces around 90 trucks a year.

Kovatch Mobile Equipment

In April 2016, REV Group acquired Nesquehoning, Pennsylvania-based fire truck manufacturer Kovatch Mobile Equipment Corp (KME), which services municipal, state and federal governments. KME was founded in 1946; it began by producing aircraft refueling trucks before shifting into the fire truck market in the 1980s.[34] REV Group announced that plants in Nesquehoning and Roanoke, Virginia would be closing in 2021, with KME production shifting to Holden, Louisiana.[35] The Nesquehoning plant was closed in April 2022.[36]

Ferrara Fire Apparatus

Ferrara Fire Apparatus was acquired by REV Group on April 25, 2017. The company manufactures custom fire and rescue vehicles for municipal and industrial clients.[37] The company was founded in 1979 and employs around 450 workers as of 2017, with annual sales at $165 million.[38] In November 2021, REV Group announced plans for a $7.46 million expansion of Ferrara's Holden, Louisiana manufacturing facility; the project is due to be complete in June 2023.[39]

Spartan Emergency Response

In February 2020, REV Group announced its acquisition of Spartan ER, a subsidiary of The Shyft Group (at the time known as Spartan Motors), for $55 million.[40] [41] As part of the purchase, REV Group acquired Spartan Emergency Response and its subsidiaries (Spartan Fire Apparatus and Chassis, Smeal Fire Apparatus, Ladder Tower, and UST). The company designs, manufactures, and distributes custom emergency response vehicles across Asia, North America, and South America. Prior to its acquisition, Spartan recorded $253 million in revenue for the year ending in September 2019.[42]

Ambulance

American Emergency Vehicles (AEV) is a manufacturer of ambulance vehicles. It was acquired by REV Group in 2010.[43] and is headquartered in Jefferson, North Carolina, where it has been based for over 30 years.[44] Leader Emergency Vehicles company develops ambulance vehicles, including all-electric vehicles,[45] [46] the first of their kind in the United States.[47] REV Ambulance Group Orlando[48] encompasses Wheeled Coach and Road Rescue.[49] Horton Emergency Vehicles was founded by Carl Horton, who was an early leader in the IndyCar safety field;[50] the company was founded in 1968 and is based in Grove City, Ohio. As of 2014, Horton employs around 400 workers and produces around 600 ambulances a year, primarily for fire departments.[51] Horton vehicles produced after April 2023 feature the MBrace, a "four-point retractable harness that includes its own airbag"[52] that can be deployed in a "fraction of a second."[53]

REV Recreation Group, Inc.

REV Recreation Group comprises American Coach, Fleetwood Enterprises, and Holiday Rambler. In March 2023, REV completed its 40,000th unit at its Decatur, Indiana plant.[54] [55]

Renegade RV

Renegade RV was acquired by REV Group in 2016; as of December 2016, it has 175 employees and is based in Bristol, Indiana. The company manufactures recreational vehicles, trailers, and specialty vehicles.[56]

Lance Camper

Lance Camper was acquired by REV Group in January 2018.[57] The company is based in Lancaster, California and manufactures campers and travel trailers.[58] In March 2022, Lance Camper announced plans to create a new manufacturing facility in Decatur, Indiana, which will employ an estimated 120-140 people, with economic assistance of up to $1.4 million from the Indiana Economic Development Corporation.[59] In April 2023, Lance entered the overland camper market with the Enduro Off-Road Trailer.[60]

Commercial

REV Group's commercial division includes several companies. ENC (formerly known as ElDorado National) was founded in 1981. ENC manufactures heavy-duty buses for mass transit, airport and university applications. It retrofits and modifies vehicles for both retail and commercial customers, as well as government agencies; the company lowers the floors of minivans so that they can be wheelchair-accessible.[61] In December 2022, the first orders were received for ENC's newest electric and hydrogen fuel cell busses.[62]

Collins Industries was founded in 1967 and is based in South Hutchinson, Kansas. It employs over 5,000 workers as of October 2016.[63] It manufacturers Type-A school buses and activity buses,[64] and is the largest manufacturer of Type A buses in the country.[65] LayMor Sweepers and Capacity Trucks are headquartered in Longview, Texas and manufacture street sweepers and yard trucks, respectively.[66] Capacity unveiled a hydrogen-fuel cell terminal tractor in February 2023[67] and a battery electric vehicle in May 2023 at ACT Expo in Anaheim, California.[68]

Notes and References

  1. Web site: Allied Specialty Vehicles Selects ʺREVʺ as New Company Name . Fire Apparatu & Emergency Equipment . August 4, 2022 . November 2, 2015.
  2. Web site: REV Group, Inc. (REVG) Stock Price, News, Quote & History - Yahoo Finance . . August 4, 2022.
  3. News: REV Group HQ will be in the Milwaukee Center. Hess. Corrinne. 2016-04-07. Milwaukee Business News. 2019-06-04. https://web.archive.org/web/20170312075319/https://www.biztimes.com/2016/industries/manufacturing-logistics/rev-group-hq-will-be-in-the-milwaukee-center/. 2017-03-12. live.
  4. Web site: Tackett . Richard . REV Group sets itself apart . BUSRide . August 4, 2022 . July 1, 2018.
  5. Web site: REV GROUP, INC. (REVG) IPO. NASDAQ.com. en-us. 2019-06-05.
  6. Web site: Know your IPO! Cramer finds out if fresh-faced Rev Group is ready to be bought. Stevenson. Abigail. 2017-01-30. CNBC. en. 2019-06-05.
  7. Web site: Allied Specialty Vehicles, Inc. Announces the Acquisition of Road Rescue. 2010-09-20. Roadrescue.com. https://web.archive.org/web/20130725063111/http://www.roadrescue.com/news.php?id=1. 2013-07-25. dead. 2013-05-27.
  8. Web site: Road Rescue to shut down in Marion. Mcfadden. Naeem. 2010-09-23. SCNow. en. https://web.archive.org/web/20190605185556/https://www.scnow.com/news/local/article_14ac6edd-2bb2-5585-ba4d-d42bf9e3a63d.html. 2019-06-05. live.
  9. Web site: Allied Specialty Vehicles, Inc. Acquires Ambulance Manufacturer SJC Industries. 2013-05-06. Allied Specialty Vehicles. https://web.archive.org/web/20150501090622/http://www.alliedsv.com/files/ASV_-_SJC_Press_Release.pdf. 2015-05-01. dead. 2015-05-01.
  10. News: Elkhart company to close. Meenan. Jim. 2013-05-22. South Bend Tribune. 2019-06-04.
  11. Web site: Allied Specialty Vehicles, Inc. Acquires Monaco RV. 2013-05-16. Allied Specialty Vehicles. https://web.archive.org/web/20140415101721/http://www.alliedsv.com/files/051613_ASV-Acquires-Monaco-RV.pdf. 2014-04-15. dead. 2013-05-17.
  12. News: Navistar sends RV biz on a one-way road trip. 2013-05-16. Chicago Business Journal. https://web.archive.org/web/20130620151700/https://www.bizjournals.com/chicago/news/2013/05/16/navistar-sells-recreational-vehicle.html. 2013-06-20. live.
  13. Thor Sells Bus Business. https://web.archive.org/web/20150109235211/http://www.insideindianabusiness.com/newsitem.asp?id=60644. 2015-01-09. InsideINdianaBusiness. 2013-07-31.
  14. News: Kovatch sells KME; all jobs to be retained. Holland. Christopher. 2016-04-12. Lehigh Valley Business. 2019-06-04.
  15. News: Here's how sale of Ferrara Fire Apparatus to affect Holden-based fire engine maker, 450 employees. Boone. Timothy. 2017-07-01. The Advocate. https://web.archive.org/web/20180623013038/http://www.theadvocate.com/baton_rouge/news/business/article_1a2e98ee-470f-11e7-8f37-53b59bd1bb3a.html. 2018-06-23. live.
  16. REV Group acquires Ferrara Fire Apparatus. 2017-04-25. live. https://web.archive.org/web/20190605202224/https://www.ferrarafire.com/2017/04/25/rev-group-acquires-ferrara-fire-apparatus/. 2019-06-05.
  17. Web site: Gerard . Gary . Exhibitors 'Cautiously Optimistic' as Tampa RV Show Opens . RVBusiness . June 4, 2023 . January 18, 2023.
  18. REV Group, Inc. Acquires Renegade RV. 2016-12-30. live. https://web.archive.org/web/20190605202625/https://www.prnewswire.com/news-releases/rev-group-inc-acquires-renegade-rv-300384185.html. 2019-06-05. PR Newswire.
  19. Web site: Rev Group acquires Midwest Automotive Designsesigns . The Fabricator . May 21, 2023 . April 17, 2017.
  20. News: REV Group acquires Lance Camper Adds California RV manufacturer to specialty vehicle lineup . January 15, 2018 . Biz Times/Milwaukee Business News . February 9, 2018 . Molly . Dill.
  21. Web site: Spartan Motors Announcements. 2020-02-03. Spartan Motors. 2020-02-03.
  22. News: Forest River acquires REV Group's shuttle bus business. 2020-05-13.
  23. Web site: REV Group, Inc. (REVG) to Exit School and Transit Bus Manufacturing and Reorganize Into Two Reporting Segments; Announces a Special Cash Dividend . streetinsider.com . 2024-01-29 . 2024-01-29.
  24. Web site: Kirchen . Rich . Rev Group makes it official for new CEO . Milwaukee Business Journal . June 4, 2023 . May 18, 2023.
  25. Web site: Home - REV Corporate . REV Group . March 15, 2022.
  26. Web site: Fine . Ariana . City of Varennes Orders Customized Electric Rescue Truck from E-ONE . NGT News . April 9, 2023 . June 22, 2022.
  27. Web site: Worford . David . Charlotte Adds Electric Fire Truck for Sustainable Firehouse . Environment + Energy Leader . April 9, 2023 . December 16, 2022.
  28. Web site: Crider . Johnna . Mesa Fire & Medical To Receive Fully Electric Fire Truck — An E-ONE Vector . CleanTechnica . April 9, 2023 . November 17, 2021.
  29. Web site: Schultz . Becky . Toronto Fire Services orders electric Vector pumper trucks . New Power Progress . May 21, 2023 . en . August 29, 2022.
  30. Web site: Merrill . Leila . All-electric Vector fire truck to be part of fleet at Daytona International Speedway . FireRescue1 . April 9, 2023 . en . January 23, 2023.
  31. Web site: E-ONE Sold To N.Y. Investment Firm . Fire Apparatus Magazine . August 15, 2022 . August 1, 2008.
  32. Web site: Anderson . Katie . E-One in Hamburg adds jobs to rev up fire truck manufacturing . . August 15, 2022 . February 4, 2022.
  33. Web site: Ozdemir . Derya . E-One Is Delivering the First Fully-Electric Fire Truck in North America . interestingengineering.com . August 15, 2022 . November 17, 2021.
  34. Web site: Ruber . Chris . KME plant to close in April 202 . . August 15, 2022 . September 11, 2021.
  35. Web site: Kirchen . Rich . Rev Group closing plants in Virginia, Pennsylvania . . August 15, 2022 . September 14, 2021.
  36. Web site: Reber . Chris . KME workers put in last shift . . August 15, 2022 . April 2, 2022.
  37. Web site: Schuyler . David . Shafer . Dan . Rev Group buys Louisiana fire apparatus manufacturer . . August 15, 2022 . April 25, 2017.
  38. Web site: Bone . Timothy . Here's how sale of Ferrara Fire Apparatus to affect Holden-based fire engine maker, 450 employees . . August 15, 2022 . en . June 1, 2017.
  39. Web site: Stafford . Jana . REV Fire Group plans $7.46M expansion at Holden, Louisiana, facility by 2023 . BIC Magazine . August 15, 2022 . en-us . November 16, 2021.
  40. Web site: Naczek . Margaret . REV Group Inc. acquires Spartan Emergency Response . . April 9, 2023 . February 3, 2020.
  41. Web site: Boomgaard . Joe . Spartan Motors divests fire apparatus business for $55 million . mibiz.com . August 15, 2022 . February 5, 2020.
  42. Web site: Thomas . Arthur . REV Group acquires Spartan Motors' emergency response vehicle business . BizTimes . August 15, 2022 . February 3, 2020.
  43. Web site: American Emergency Vehicles introduces Firstar to its lineup of emergency vehicles available at AEV dealers across the country . EMS1 . August 21, 2022 . en . January 6, 2021.
  44. Web site: Parker . Jason . AEV to centralize, modernize emergency vehicle plant in Jefferson, N.C. . . August 21, 2022 . April 9, 2021.
  45. Web site: Shahan . Zachary . You Can Now Buy An Electric Ambulance . CleanTechnica . August 21, 2022 . April 15, 2021.
  46. Web site: Kent . Chloe . How hospitals and the medtech sector are tackling the climate crisis . Medical Device Network . August 21, 2022 . September 28, 2021.
  47. Web site: Mehar . Pranjal . DocGo unveils first all-electric, zero-emission ambulance in the U.S. . Inceptive Mind . August 21, 2022 . March 16, 2022.
  48. Web site: Fine . Ariana . REV Group Signs Additional Agreements for Electric Ambulances . NGT News . August 22, 2022 . December 13, 2021.
  49. Web site: Kirchen . Rich . Rev Group furloughs 100 employees, cites supply-chain shortfalls . . August 22, 2022 . June 16, 2022.
  50. Web site: VanTryon . Matthew . Carl Horton, IndyCar safety pioneer, dies at 87 . . August 22, 2022 . December 22, 2021.
  51. Web site: Kossler Dutton . Melissa . Innovation drives Horton in producing ambulances . . August 22, 2022 . July 11, 2014.
  52. Web site: Merrill . Leila . 7 innovative ambulance features . EMS1 . May 21, 2023 . en . May 12, 2023.
  53. Web site: Video: Ambulance advances at FDIC 2023 . EMS1 . May 21, 2023 . en . May 16, 2023.
  54. Web site: March 9 - Decatur's REV Recreation Group, Inc. celebrates manufacturing milestone . Fort Wayne Business Weekly . May 21, 2023 . en . March 9, 2023.
  55. Web site: 40k for Fleetwood . Decatur Daily Democrat . en . March 10, 2023.
  56. Web site: Shafer . Dan . REV Group acquires Indiana-based Renegade RV . . August 28, 2022 . December 30, 2016.
  57. Web site: REV Group Acquires Lance Camper . www.businesswire.com . August 28, 2022 . en . January 12, 2018.
  58. Web site: Szal . Andy . Camper Manufacturer Announces $2.1 Million Indiana Factory . ThomasNet . August 28, 2022 . en . March 10, 2022.
  59. Web site: Slater . Sherry . Decatur getting trailer assembly site, 120-140 jobs . . August 28, 2022 . en . February 25, 2022.
  60. Web site: Lance Camper Enters Overland Market - RV PRO . RV Pro . April 9, 2023 . March 10, 2023.
  61. Web site: Reporter . Ken Hedler . ElDorado Mobility move to Longview makes way for growth in Kansas . Longview News-Journal . August 28, 2022 . en . September 18, 2016.
  62. Web site: Kirchen . Rich . As Rev Group eyes infrastructure act contracts, unit delivers latest electric buses . . April 9, 2023 . December 27, 2022.
  63. Web site: Parent company of Collins Bus going public . The Hutchinson News . August 28, 2022 . October 19, 2016.
  64. Web site: Green . John . Collins Bus temporarily closing due to COVID-19 impact . The Hutchinson News . August 28, 2022 . April 16, 2020.
  65. Web site: Adler . Alan . Motiv expands electric chassis footprint . FreightWaves . August 28, 2022 . June 23, 2020.
  66. Web site: REV: Announces new Vice President and General Manager for Capacity and Laymor . MarketScreener . August 28, 2022 . April 27, 2022.
  67. Web site: Laity . Edward . Capacity Trucks launches zero-emission hydrogen-powered truck . H2 View . April 9, 2023 . en . February 22, 2023.
  68. Web site: Lovrac . Tess . Capacity Trucks debuts electric terminal truck at ACT Expo . Fleet Equipment . May 21, 2023 . May 2, 2023.

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