REV GROUP ACQUIRES MIDWEST AUTOMOTIVE DESIGNS
MILWAUKEE, WI – Apr. 12, 2017 – REV Group (NYSE: REVG), a $2+ billion manufacturer of industry-leading specialty vehicle brands and leading provider of parts and services, today announced the acquisition of Midwest Automotive Designs (“Midwest”), a leading custom van “upfitter” that develops and manufactures luxury vehicles for end segments including motorhomes, shuttle vans, limousines, and customized executive transportation vehicles. This acquisition enhances REV’s product offerings in both its Recreation and Commercial segments through the RV and bus divisions, by adding a selection of Class B RVs and multiple products for the luxury Limousine, Charter and Tour (“LCT”) bus markets, respectively.
Headquartered in Elkhart, IN, Midwest Automotive Designs custom-builds RV’s and LCT vans on the Mercedes-Benz Sprinter chassis and the newly introduced Dodge ProMaster chassis. Since its inception in 2003, the company has grown to over 130 employees with combined manufacturing and office space of over 100,000 square feet and annual revenue of approximately $45 million. “One of our key strengths is our ability to rapidly design, engineer, and commercialize new products,” stated Tim Gray, President of Midwest Automotive Designs. “Our combination with REV makes all of the sense in the world. We are excited to tap into REV’s technical resources and nationwide dealership footprint.”
“We are pleased to welcome Tim and his outstanding team at Midwest into the REV RV family,” said Jim Jacobs, President of REV Recreation Group. “Product quality and craftsmanship are words consistently applied to describe the Midwest product, and integrity is a word used to describe the team Tim Gray has built over the past 14 years. The attention-to-detail in the production of their vehicles is second to none. I truly believe that with REV, Midwest Automotive Designs now has all of the resources and backing in place to become a leading brand in our RV segment.” John Walsh, President of REV’s bus division added that, “The addition of top quality custom shuttle buses, limousines and executive transportation vehicles is complementary to our existing commercial vehicle line of products. All of these products add to an already solid line of luxury vehicles under our Krystal and Federal brands. Our luxury transportation dealers will be very excited about these additions to our luxury product line.”
Midwest’s manufacturing operations will remain in Elkhart, IN., and the company’s 130 employees will continue to be an integral part of the day-to-day operations and its future growth plans. Midwest has built a strong independent dealer network that will continue to promote and sell the Midwest products nationwide and now be further complemented by REV’s network.
“We are extremely pleased to have Midwest Automotive Designs join our team at REV and I personally look forward to welcoming their talented group of employees,” stated Tim Sullivan, CEO, REV Group, Inc. “Midwest brings a strong quality-focused reputation and a diverse product portfolio that is entirely complementary to our line of great American-made specialty vehicles. Furthermore, Midwest is a strong cultural fit within REV Group and we will be able to quickly assimilate them into our company. They will immediately contribute strategic value in alignment with REV’s mission of delivering high quality specialty vehicles and support services to various end markets while also driving shareholder value creation through growth.”
The acquisition of Midwest was signed and closed concurrently on April 12, 2017.
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 27 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.