Excerpts from a REV Group press release:
(April 11, 2016) – REV Group, Inc. (“REV Groupâ€), 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 “Companyâ€).
Established 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, including fire apparatus (pumpers, aerials, tankers), rescue vehicles, and fuel trucks, which are sold globally to fire-rescue, military, aviation, and industrial customers.
John Kovatch III, President & CEO of KME, shared, “Over the past 70 years, our family and team have dedicated themselves to serving our customers with excellence. We’re proud of what our employees have achieved and grateful for their hard work and commitment. REV Group brings deep expertise in the specialty vehicle industry, and we’re excited about the future growth opportunities this partnership will bring.â€
As part of the deal, John Kovatch III will step down from his role as KME’s CEO but will remain involved during the transition period, working closely with Tim Sullivan, CEO of REV Group. The KME headquarters and primary manufacturing operations will stay in Nesquehoning, PA, alongside other facilities in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ. Additionally, KME’s extensive dealer network will continue to support the brand worldwide.
Tim Sullivan, CEO of REV Group, said, “We’re thrilled to welcome KME into the REV Group family. Their strong brand, skilled workforce, and top-tier product line will significantly enhance our ability to meet customer and dealer needs across the country. John’s experience and leadership will be invaluable as we move forward, and we congratulate him on the impressive legacy he has built over the years.â€
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 company. However, local employees are not expected to be impacted by the change, according to company officials.
A deal is currently being finalized for the sale of 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. He stated that only the emergency vehicle business is affected, and the sale is expected to be completed this week. Employees were informed of the news on Monday, and Kovatch IV expressed optimism that the number of jobs in Nesquehoning will increase after the transaction.
Both companies are privately held. REV Group recently rebranded from Allied Specialty Vehicles last year.
John Kovatch IV’s grandfather, John “Sonny†Kovatch II, founded the business in 1946, and the company opened its first manufacturing facility in 1950 at the intersection of Routes 209 and 54. Since then, it has grown to become Carbon County’s largest employer, with more than 700 employees. 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 in Nesquehoning to grow following the deal. “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 stated that no jobs will be lost as a result of the purchase. In fact, the company anticipates an increase in employment in the future.
“This merger will position us among the top 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 notified on Monday morning.
KME produces heavy-duty vehicles such as fire trucks, garbage trucks, and some military vehicles. Founded in 1946, the company employs approximately 700 people.
Thanks Dan
Rigging Hardware,Eye Grab Hook,Clevis Slip Hook,Clevis Slip Hook With Latch
Yangzhou Jieerte Steel Cable Co., Ltd , https://www.jieertesteelcable.com