Published: Thursday, 16 May 2013 12:54
Allied Specialty Vehicles (ASV) has acquired certain assets of Navistar RV. ASV, based in Orlando, Fla., is a $1 billion sales producer of specialty vehicles and parent to motorhome builder Fleetwood RV Inc.
According to a Navistar press release, the deal was structured as a purchase of all of the equity interests of Navistar RV and includes the manufacturing operations for Navistar’s R-Vision and Holiday Rambler towable units in Harrisburg, Ore., and Navistar’s Monaco and Holiday Rambler brand motorized RVs in Wakarusa, Ind.
"We continue to focus on our North America core businesses and the sale of Navistar RV represents another important step in our Return-On-Invested-Capital review process," said Jack Allen, Navistar CEO. "These are three strong brands with world-class products and ASV will be able to create more value in the business than we could ourselves."
ASV also has entered into a multi-year leasing agreement for Navistar RV’s Elkhart, Ind., facility. The sale does not include Bison Coach, Navistar’s horse trailer manufacturing business.
Peter Guile, CEO of ASV, welcomed all of the existing Monaco, Holiday Rambler, R-Vision, Beaver and Safari customers and network of dealer partners to the ASV family. “The ASV team is committed to providing our customers and dealers with exceptional product, service and support." Guile said, "and we are fully committed to re-establish the product leadership and extraordinary reputation for innovation, quality and service for which the Monaco family of brands has been known.”
ASV also announced that Mike Snell has been named as president of Monaco and Holiday Rambler. Snell has worked for Monaco for more than 20 years, serving as a longtime executive for Monaco Coach Corp. and most recently as vice president of sales for Monaco RV under the Navistar umbrella.
“We join the ASV family fully energized with worthy goals and high hopes as we jointly work to rebuild our iconic and proud RV industry brands,” Snell said. “With the commitment and support of ASV, we’ll focus on developing innovative, distinct and aspirational products in keeping with the long and rich tradition of our brands. I look forward to working with our team, our dealers and our customers to make this vision a reality.”