Excerpts from a REV Group press release:
(April 11, 2016) – REV Group, Inc. (“REV Groupâ€), a top manufacturer of specialty vehicles serving commercial, fire & emergency, and recreation markets, announced today the acquisition of Kovatch Mobile Equipment Corp. (“KME†or the “Companyâ€).
Established 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, which are sold globally to fire-rescue, military, aviation, and industrial clients. KME’s product line includes fire apparatus such as pumpers, aerials, and tankers, as well as rescue vehicles and fuel trucks.
“Over the past 70 years, our family and employees have been committed to serving our customers with excellence,†said John Kovatch III, President & CEO of KME. “We’re proud of what we’ve built and grateful for the hard work and dedication of our team. REV Group has strong expertise in the specialty vehicle industry, and we're excited about the future growth that this partnership will bring,†he added.
John Kovatch III will step down as KME's CEO after the deal closes but will remain involved during the transition period, working closely with Tim Sullivan, CEO of REV Group. The company’s headquarters and main manufacturing site will stay in Nesquehoning, PA, along with facilities in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ. KME also maintains a wide network of independent dealers worldwide who will continue to promote and sell its products.
“We are thrilled to welcome KME into the REV Group family,†said Tim Sullivan, CEO of REV Group. “KME brings a strong brand, talented workforce, and exceptional product line that enhance our ability to meet customer and dealer needs across the country. We also value John’s deep industry experience and look forward to working with him as we move forward together. Congratulations to him on his leadership and the success of KME over the years,†Sullivan concluded.
The transaction 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 sale, 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 involves the company’s emergency vehicle business. He stated the sale should be completed this week. Employees were informed on Monday, and Kovatch IV expressed optimism that the number of jobs in Nesquehoning will increase following the acquisition.
Both companies are privately held. REV Group recently rebranded 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, the company has grown to become Carbon County’s largest employer, with more than 700 workers. John Kovatch III currently serves as CEO.
Kovatch IV emphasized that no changes will affect local employees as a result of the deal. In fact, he expects the workforce at the Nesquehoning site to grow 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 said no jobs will be lost with this purchase. In fact, the company expects to add more jobs in the future.
“This is a merger that will put us among the biggest 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, including fire trucks, garbage trucks, and some military vehicles. The company, founded in 1946, employs approximately 700 people.
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