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 today 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 locations in Pennsylvania, Virginia, New York, and California. The company specializes in producing high-quality, customized specialty vehicles, serving fire-rescue, military, aviation, and industrial customers globally. KME's product line includes fire apparatus (pumpers, aerials, tankers), rescue vehicles, and fuel trucks, among others.
"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 are grateful for the hard work and dedication of our employees and look forward to continued growth under the leadership of REV Group," he added.
Following 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 company's headquarters and primary manufacturing operations will stay in Nesquehoning, PA, along with facilities in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ. KME also maintains a strong global dealer network that will continue to promote its products worldwide.
"We are thrilled to welcome KME into the REV Group family," said Tim Sullivan, CEO. "KME brings a respected brand, a skilled workforce, and a top-tier product lineup that enhances our ability to serve customers and dealers across the country. We also value John's industry expertise and look forward to his continued contributions," Sullivan concluded.
The deal 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 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 involves the company’s emergency vehicle business. He said the sale should be completed this week. Employees were informed on Monday, and Kovatch IV expressed optimism that job numbers in Nesquehoning would increase after the deal closes.
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 opened the first manufacturing facility in 1950 at the intersection of Routes 209 and 54. Since then, it has grown into Carbon County’s largest employer, with more than 700 staff members. John Kovatch III currently serves as the company’s CEO.
Kovatch IV emphasized that no changes will affect local employees, and he expects the workforce to grow once the transaction is complete. “This is a great opportunity for everyone involved,†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 to add more positions in the future.
"This is a merger that will put us among the biggest names 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 produces heavy-duty vehicles, including fire trucks, garbage trucks, and some military vehicles. The company, which was founded in 1946, employs approximately 700 people.
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