REV Group Acquires Lance Camper
13 January 2018 - 8:15AM
Business Wire
Acquisition Adds Comprehensive Towable Product
Lineup to Enter Large, Rapidly Growing Segment and Expands REV’s
Iconic Family of Brands
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
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REV GroupSandy Bugbee. 1-888-738-4037 (1-888-REVG-037)VP,
Treasurer and Investor Relationsinvestors@revgroup.com
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