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REV Group

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REV Group, Inc.
FormerlyAllied Specialty Vehicles[1]
Company typePublic
NYSE: REVG[2]
Russell 2000 Component
IndustryAutomotive
Founded2010; 14 years ago (2010)[3]
Headquarters
Brookfield, Wisconsin
,
United States[4]
Key people
Mark Skonieczny[5]
ProductsAmbulances, buses, firefighting vehicles, recreational vehicles
Number of employees
6,873[2]
Websiterevgroup.com

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

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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.[3] Allied Specialty Vehicles changed its name to REV Group in November 2015[1] In January 2017, the company went public with ticker symbol REVG.[6][7]

Acquisitions and divestitures

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In September 2010, ASV acquired the assets of ambulance manufacturer Road Rescue from Spartan Motors.[8][9] 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.[10][11] 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.[12][13] 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.[14]

In April 2016, REV Group acquired fire truck manufacturer Kovatch Mobile Equipment Corp.[15] Later that year, REV Group acquired Ferrara Fire Apparatus[16][17] and Class C motorhome manufacturer[18] Renegade RV.[19] In April 2017, the company acquired sprinter van manufacturer Midwest Automotive Designs.[20]

In January 2018, REV Group acquired California-based Lance Camper. Lance was founded in 1965 and manufactures truck campers and towable RVs.[21] REV Group announced its acquisition of Spartan ER, a subsidiary of Spartan Motors, in February 2020.[22] REV Group sold its shuttle bus brands Champion, Federal Coach, World Trans, Krystal Coach, ElDorado and Goshen Coach to Forest River in May 2020.[23]

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 and later its ENC transit bus division to Rivaz Inc. in October for $52 million.[24][25]

Corporate structure

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REV Group has around 6,800 employees.[2] Its CEO is Mark Skonieczny.[5] 24 brands are part of REV Group's portfolio.[26]

REV Group Brands[26]
Company name Location Product lines
Commercial Vehicle Brands
Capacity Longview, Texas Terminal tractors
ENC Riverside, California Transit buses
LayMor Longview, Texas Street sweepers
Fire Vehicle Brands
E-ONE Ocala, Florida Firefighting apparatus
Kovatch Mobile Equipment (KME) Holden, Louisiana Firefighting apparatus
Ferrara Fire Apparatus Holden, Louisiana Firefighting apparatus
Ladder Tower Company (LTC) Ephrata, Pennsylvania Ladder trucks
Smeal Fire Apparatus Snyder, Nebraska Firefighting apparatus
Spartan Emergency Response Brandon, South Dakota Firefighting apparatus
Spartan Fire Chassis Charlotte, Michigan Firefighting apparatus
Emergency Vehicle Brands
American Emergency Vehicles (AEV) Jefferson, North Carolina Ambulances (Type I, II, III)
Horton Ambulance Grove City, Ohio Ambulances (Type I, II, III)
Leader Emergency Vehicles South El Monte, California Ambulances (Type II, III)
Road Rescue Winter Park, Florida Ambulances (Type I, II, III)
Wheeled Coach Winter Park, Florida Ambulances (Type I, II, III)
Recreational Vehicle Brands
American Coach Decatur, Indiana Class A luxury motorhomes
Fleetwood Enterprises Decatur, Indiana Class A, motorhomes
Goldshield Fiberglass Decatur, Indiana Molded fiberglass manufacturing
Holiday Rambler Decatur, Indiana Class A motorhomes
Lance Camper Lancaster, California Truck campers, travel trailers
Midwest Automotive Designs Elkhart, Indiana Class B motorhomes
Renegade RV Bristol, Indiana Luxury motorhomes

Brands

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Fire

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The E-ONE Vector is an all-electric fire truck.[27]

REV Fire Group's Vector fire truck is the first full-electric North American fire truck.[27] It has been ordered in Charlotte, North Carolina,[28] Varennes, Quebec,[27] and Mesa, Arizona,[29] and Toronto, Canada,[30] and was used in the 2023 Daytona 500.[31]

E-ONE

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E-ONE was acquired by REV Group's in 2010 as its first fire apparatus manufacturer and is headquartered in Ocala, Florida.[32] 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.[33] In November 2021, E-ONE was contracted by the city of Mesa, Arizona to build the first fully-electric firetruck in North America.[34] As of February 2022, the company's Hamburg, New York plant employs around 100 people and produces around 90 trucks a year.[33]

Kovatch Mobile Equipment

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In April 2016, REV Group acquired Nesquehoning, Pennsylvania-based fire truck manufacturer Kovatch Mobile Equipment Corp (KME), which services municipal, state and federal governments.[35] KME was founded in 1946; it began by producing aircraft refueling trucks before shifting into the fire truck market in the 1980s.[36] 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.[37]

Ferrara Fire Apparatus

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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.[38] The company was founded in 1979 and employs around 450 workers as of 2017, with annual sales at $165 million.[39] 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.[40]

Spartan Emergency Response

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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.[41][42] 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).[42] 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.[43]

Ambulance

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American Emergency Vehicles (AEV) is a manufacturer of ambulance vehicles. It was acquired by REV Group in 2010.[44] and is headquartered in Jefferson, North Carolina, where it has been based for over 30 years.[45] Leader Emergency Vehicles company develops ambulance vehicles, including all-electric vehicles,[46][47] the first of their kind in the United States.[48] REV Ambulance Group Orlando[49] encompasses Wheeled Coach and Road Rescue.[50] Horton Emergency Vehicles was founded by Carl Horton, who was an early leader in the IndyCar safety field;[51] 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.[52] Horton vehicles produced after April 2023 feature the MBrace, a "four-point retractable harness that includes its own airbag"[53] that can be deployed in a "fraction of a second."[54]

REV Recreation Group, Inc.

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A Collins Industries Type A school bus; Collins is the largest manufacturer of Type A buses in the United States.[55]

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.[56][57]

Renegade RV

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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.[58]

Lance Camper

[edit]

Lance Camper was acquired by REV Group in January 2018.[59] The company is based in Lancaster, California and manufactures campers and travel trailers.[60] 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.[61] In April 2023, Lance entered the overland camper market with the Enduro Off-Road Trailer.[62]

Commercial

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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.[63] In December 2022, the first orders were received for ENC's newest electric and hydrogen fuel cell busses.[64]

Collins Industries was founded in 1967 and is based in South Hutchinson, Kansas. It employs over 5,000 workers as of October 2016.[65] It manufacturers Type-A school buses and activity buses,[66] and is the largest manufacturer of Type A buses in the country.[55] LayMor Sweepers and Capacity Trucks are headquartered in Longview, Texas and manufacture street sweepers and yard trucks, respectively.[67] Capacity unveiled a hydrogen-fuel cell terminal tractor in February 2023[68] and a battery electric vehicle in May 2023 at ACT Expo in Anaheim, California.[69]

References

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  1. ^ a b "Allied Specialty Vehicles Selects ʺREVʺ as New Company Name". Fire Apparatu & Emergency Equipment. November 2, 2015. Retrieved August 4, 2022.
  2. ^ a b c "REV Group, Inc. (REVG) Stock Price, News, Quote & History - Yahoo Finance". Yahoo! Finance. Retrieved August 4, 2022.
  3. ^ a b Tackett, Richard (July 1, 2018). "REV Group sets itself apart". BUSRide. Retrieved August 4, 2022.
  4. ^ Hess, Corrinne (2016-04-07). "REV Group HQ will be in the Milwaukee Center". Milwaukee Business News. Archived from the original on 2017-03-12. Retrieved 2019-06-04.
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  25. ^ https://revgroup.com/rev-group-completes-sale-of-enc-its-transit-bus-business/
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  28. ^ Worford, David (December 16, 2022). "Charlotte Adds Electric Fire Truck for Sustainable Firehouse". Environment + Energy Leader. Retrieved April 9, 2023.
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  30. ^ Schultz, Becky (August 29, 2022). "Toronto Fire Services orders electric Vector pumper trucks". New Power Progress. Retrieved May 21, 2023.
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  56. ^ "March 9 - Decatur's REV Recreation Group, Inc. celebrates manufacturing milestone". Fort Wayne Business Weekly. March 9, 2023. Retrieved May 21, 2023.
  57. ^ "40k for Fleetwood". Decatur Daily Democrat. March 10, 2023.
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  59. ^ "REV Group Acquires Lance Camper". www.businesswire.com. January 12, 2018. Retrieved August 28, 2022.
  60. ^ Szal, Andy (March 10, 2022). "Camper Manufacturer Announces $2.1 Million Indiana Factory". ThomasNet. Retrieved August 28, 2022.
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  66. ^ Green, John (April 16, 2020). "Collins Bus temporarily closing due to COVID-19 impact". The Hutchinson News. Retrieved August 28, 2022.
  67. ^ "REV: Announces new Vice President and General Manager for Capacity and Laymor". MarketScreener. April 27, 2022. Retrieved August 28, 2022.
  68. ^ Laity, Edward (February 22, 2023). "Capacity Trucks launches zero-emission hydrogen-powered truck". H2 View. Retrieved April 9, 2023.
  69. ^ Lovrac, Tess (May 2, 2023). "Capacity Trucks debuts electric terminal truck at ACT Expo". Fleet Equipment. Retrieved May 21, 2023.
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