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 operations in Pennsylvania, Virginia, New York, and California. The company specializes in producing high-quality, customized specialty vehicles, including fire apparatus (pumpers, aerials, tankers), rescue vehicles, and fuel trucks, which are sold globally to fire-rescue, military, aviation, and industrial customers.
"Over the past 70 years, our family and associates have been proud to serve our customers," said John Kovatch III, President & CEO of KME. "We're grateful for the hard work and dedication of our employees and look forward to continued growth with REV Group, a company with deep expertise in the specialty vehicle industry."
As part of the transaction, John Kovatch III will step down as KME's CEO but will remain involved during the transition period, working closely with Tim Sullivan, CEO of REV Group. The KME headquarters and main manufacturing facility will stay in Nesquehoning, PA, alongside other locations in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ. KME also maintains a strong independent dealer network that will continue to promote and sell its products worldwide.
"We're thrilled to welcome KME into the REV Group family," said Tim Sullivan, CEO of REV Group. "KME brings a strong brand, a talented team, and world-class products that enhance our ability to meet customer and dealer needs across the country. We also value John's experience and look forward to working with him as we move forward together."
The acquisition 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 business to a Florida-based company. However, local employees are not expected to be affected 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 will increase as a result of the deal.
Both companies are privately held. REV Group changed its name last year from Allied Specialty Vehicles. John Kovatch IV’s grandfather, John “Sonny†Kovatch II, founded the business in 1946, and the first manufacturing facility opened 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 changes for local employees, and he expects the workforce at the Nesquehoning site to grow after the transaction is complete. “It’s 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 due to the purchase. In fact, the company expects more jobs to be created in the future.
"This is a merger that will put us among the top players in the industry," he said.
The KME name will remain unchanged. The deal has been in the works since September and could be finalized as early as Friday. Employees were informed on Monday morning.
KME builds heavy-duty vehicles such as fire trucks, garbage trucks, and some military vehicles. The company, established in 1946, employs approximately 700 people.
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