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REV Group buys KME fire truck division
**REV Group Press Release Excerpts:**
On April 11, 2016, REV Group, Inc., a major player in the specialty vehicle manufacturing sector, announced its acquisition of Kovatch Mobile Equipment Corp. ("KME" or the "Company"). KME, established in 1946, is headquartered in Nesquehoning, Pennsylvania, and employs over 800 associates across operations in Pennsylvania, Virginia, New York, and California. Known for its diverse range of high-quality, customizable specialty vehicles, KME caters to global clients in sectors like firefighting, military, aviation, and industry.
In a statement, John Kovatch III, KME's President and CEO, expressed pride in the company’s legacy and its loyal workforce. “For 70 years, our team has delivered exceptional service,†he said. “I’m confident that joining REV Group will bring even greater opportunities for growth and innovation.â€
As part of the acquisition, Kovatch III will step down as CEO but will assist with the transition process alongside Tim Sullivan, REV Group’s CEO. Sullivan welcomed KME into the REV Group family, praising its reputation and product lineup. “With KME’s expertise, we can expand our reach and enhance customer satisfaction nationwide,†Sullivan noted.
The Nesquehoning headquarters and key manufacturing facilities will retain their current locations, ensuring continuity for employees and clients alike. Additionally, KME’s robust network of independent dealers will continue promoting the brand globally. The transaction is anticipated to close in Q2 2016.
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**TimesNewsonline.com Excerpts:**
Kovatch Corporation, Carbon County’s largest employer, is set to sell its firefighting division to REV Group, a Florida-based conglomerate. Despite the shift, local jobs appear secure, with Kovatch IV, VP of Customer Service, confirming no layoffs are planned.
The deal, which focuses solely on the emergency vehicle segment, is nearing completion and could finalize this week. Employees learned about the merger on Monday, and Kovatch IV expressed optimism about future job expansion.
Founded by John "Sonny" Kovatch II in 1946, the Nesquehoning-based company now employs over 700 workers. Kovatch IV emphasized that existing staff won’t face disruptions post-acquisition, predicting growth instead. “This is a win-win for everyone involved,†he remarked.
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**WFMZ.com Excerpts:**
Orlando-based REV Group has acquired KME Fire and Rescue, a prominent Carbon County employer. According to KME’s owner, John Kovatch, the merger will not result in job losses but may lead to increased hiring down the line. The KME name will remain intact, and the deal has been in progress since September, with finalization expected soon.
KME specializes in heavy-duty vehicles, including fire trucks, garbage trucks, and military-grade equipment. Established in 1946, the company boasts around 700 employees and aims to strengthen its market presence through this partnership. Employees were briefed on the news earlier this week.
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*Thanks to Dan for sharing.*