REV Group buys KME fire truck division
Excerpts from a REV Group press release:
(April 11, 2016) – REV Group, Inc. ("REV Group"), a leading manufacturer of specialty vehicles for commercial, fire & emergency, and recreation markets, announced the acquisition of Kovatch Mobile Equipment Corp. ("KME" or "the Company").
Founded in 1946 and based in Nesquehoning, Pennsylvania, KME has grown to employ over 800 people across locations in Pennsylvania, Virginia, New York, and California. The company specializes in high-quality, customized specialty vehicles, serving customers in fire-rescue, military, aviation, and industrial sectors globally. Their product line includes fire apparatus (pumpers, aerials, tankers), rescue vehicles, and fuel trucks.
"Over the past 70 years, our family and associates have taken pride in serving our customers," said John Kovatch III, President & CEO of KME. "We're proud of what our employees have achieved and grateful for their hard work and commitment to customer service. REV Group has strong expertise in the specialty vehicle industry, and we’re excited about the future growth opportunities with them," he added.
John Kovatch III will step down as KME's President & CEO following the transaction, but he will remain involved during the transition period, working closely with Tim Sullivan, CEO of REV Group.
KME’s headquarters and primary manufacturing operations will stay in Nesquehoning, PA. Additional facilities in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ will continue to play a key role in its operations. KME also maintains an extensive dealer network that will keep promoting and selling its products worldwide.
"We are thrilled to welcome KME into the REV Group family," said Tim Sullivan, CEO. "KME brings a strong brand, a talented team, and world-class products that enhance our ability to serve customers and dealers nationwide. John’s deep industry experience will be a valuable asset, and I look forward to working with him. We commend his leadership over the past decades, which has built a successful business," Sullivan concluded.
The deal is expected to close early in the second quarter of 2016.
Excerpts from TimesNewsonline.com:
Kovatch Corporation, one of Carbon County’s largest employers, is selling its fire truck division to a Florida-based firm. However, local employees are not expected to be impacted by the move, according to company officials.
A deal is being finalized to sell the Nesquehoning-based fire truck manufacturer to REV Group, a Florida-based company that owns several specialty vehicle manufacturers.
John Kovatch IV, the company’s vice president and customer service director, confirmed the deal on Monday. It only affects the company’s emergency vehicle business. He said the sale should be completed this week. The news was shared with employees on Monday. Kovatch IV expressed optimism that the number of jobs in Nesquehoning would increase after the transaction.
Both companies are privately held. REV Group recently changed its name from Allied Specialty Vehicles.
Kovatch IV’s grandfather, John “Sonny†Kovatch II, founded the business in 1946. The company first opened its manufacturing facility at the intersection of Routes 209 and 54 in 1950. Since then, it has grown to become Carbon County’s largest employer, with more than 700 employees. John Kovatch III currently serves as the company’s CEO.
Kovatch IV emphasized that there will be no job losses due to the deal. In fact, he expects employment at the Nesquehoning site to increase once the transaction is complete.
"This is a great opportunity for all of our employees and customers," he said.
Excerpts from WFMZ.com:
KME Fire and Rescue, located in Nesquehoning, Carbon County, is being acquired by Orlando, Florida-based REV Group.
KME owner John Kovatch stated that no jobs will be lost with the purchase. In fact, the company expects to add more jobs in the future.
"This is a merger that will position us among the top players in the industry," he said.
The KME name will remain unchanged. The deal has been in progress since September and could be finalized as early as Friday. Employees were informed on Monday morning.
KME produces heavy-duty vehicles such as fire trucks, garbage trucks, and some military vehicles.
The company, established in 1946, employs approximately 700 people.
Thanks, Dan
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