Jan. 12th, 2018
Acquisition Adds Comprehensive Towable Product Lineup to Enter Large,
Rapidly Growing Segment and Expands REV’s Iconic Family of Brands
MILWAUKEE--(BUSINESS WIRE)--
REV Group (NYSE: REVG), a $2.3 billion manufacturer of industry-leading
specialty vehicle brands and leading provider of parts and services,
today announced the acquisition of Lance Camper Manufacturing
Corporation (“Lance Camper” or the “Company”). This acquisition enables
REV to meaningfully enter the rapidly growing over $10 billion towables
segment of the RV market by adding Lance Campers’ premium portfolio of
truck campers, towable campers and toy haulers to REV’s existing suite
of motorized offerings.
Founded in 1965, Lance Camper designs, engineers and manufactures its
lineup of innovative, high quality, and customer-centric products from
its state-of-the-art campus in Lancaster, CA. Throughout its over
50-year history, the Company has built a tremendous reputation as a
leader in the towable RV industry. Lance Camper has the number one
selling truck camper in the U.S. and has won the National RV Dealer
Association’s prestigious Quality Circle Award 16 years running. The
Company employs over 550 associates and generates approximately $100
million in annual revenue.
After the acquisition, Lance Camper will continue to be led by its
innovative founders, Jack Cole and Jeff Souleles. “We’re thrilled to be
joining REV’s iconic family of brands,” said Jack Cole, President of
Lance Camper, “We look forward to leveraging REV’s scale and footprint
in the RV industry to rapidly expand our distribution and further
accelerate our growth. We’re an excellent fit given REV’s strong
commitment to providing its dealers and customers with premium quality,
brand leadership, and continuous innovation, all of which align well
with our culture and ambition.”
“We are absolutely delighted to welcome Jack, Jeff, and the entire Lance
Camper team into the REV family,” said Tim Sullivan, REV Group CEO.
“This acquisition is well aligned across all of our acquisition
criteria. Lance Camper adds one of the highest quality towable lines in
the U.S. and provides a significant new avenue of growth in our RV
segment.”
The acquisition of Lance Camper was closed on January 12, 2018.
About Rev Group
REV (NYSE: REVG) is a leading designer, manufacturer and distributor
of specialty vehicles and related aftermarket parts and services. We
serve a diversified customer base primarily in the United States through
three segments: Fire & Emergency, Commercial and Recreation. We provide
customized vehicle solutions for applications including: essential needs
(ambulances, fire apparatus, school buses, mobility vans and municipal
transit buses), industrial and commercial (terminal trucks, cut-away
buses and street sweepers) and consumer leisure (recreational vehicles
(“RVs”) and luxury buses). Our brand portfolio consists of 30
well-established principal vehicle brands including many of the most
recognizable names within our served markets. Several of our brands
pioneered their specialty vehicle product categories and date back more
than 50 years. Investors-REVG
View source version on businesswire.com: http://www.businesswire.com/news/home/20180112005618/en/
REV Group
Sandy Bugbee. 1-888-738-4037 (1-888-REVG-037)
VP,
Treasurer and Investor Relations
[email protected]
Source: REV Group
