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 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 operations in Pennsylvania, Virginia, New York, and California. The company produces a wide range of 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.
"For 70 years, our family and employees have delivered exceptional service to our customers," 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 deep expertise in this industry, and we're excited about the future growth that lies ahead with them," he added.
John Kovatch III will step down as KME's CEO following the transaction but will remain involved during the transition period, working closely with Tim Sullivan, CEO of REV Group. The company’s headquarters and primary manufacturing facility will stay in Nesquehoning, PA, alongside other locations in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ. KME also maintains a strong independent dealer network worldwide.
"We’re thrilled to welcome KME into the REV Group family," said Tim Sullivan, CEO. "KME brings a respected brand, talented employees, and world-class products that enhance our ability to serve customers and dealers across the country. John’s experience will be invaluable as we move forward, and I want to thank him for his leadership over the past decades," he 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 company. However, local employees are not expected to be affected by the change, 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. The sale only affects the company’s emergency vehicle business. He stated the transaction should be completed this week. Employees were informed of the news on Monday, and Kovatch IV expressed optimism that the number of jobs in Nesquehoning would increase after the deal closes.
Both companies are privately held. REV Group recently changed its name from Allied Specialty Vehicles.
Kovatch IV’s grandfather, John “Sonny†Kovatch II, founded the business in 1946 and opened its 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 employees. John Kovatch III currently serves as 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 as a result of the purchase. In fact, the company anticipates adding more jobs in the future.
"This is a merger that 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 informed on Monday morning.
KME builds heavy-duty vehicles such as fire trucks, garbage trucks, and some military vehicles. The company, established in 1946, employs approximately 700 people.
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