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€).
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.
“For 70 years, our family and associates have dedicated themselves to delivering exceptional service to our customers,†said John Kovatch III, President & CEO of KME. “We are proud of what our team has achieved and appreciate their hard work and commitment. REV Group has deep expertise in the specialty vehicle industry, and we are excited about the future growth that this partnership will bring,†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 KME headquarters and main manufacturing facility will stay in Nesquehoning, PA, along with other sites in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ. KME also maintains a strong dealer network that will continue to promote and sell its products worldwide.
“We are thrilled to welcome KME into the REV Group family,†said Tim Sullivan, CEO. “KME brings a strong brand, a skilled workforce, and an impressive product lineup that enhances our ability to meet the needs of our customers and dealers. John’s experience will be invaluable as we move forward, and I commend him for his leadership over the past decades,†Sullivan concluded.
The deal is expected to close 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 affected by the change, according to company officials.
A deal is being finalized to transfer 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 stated the sale should be completed this week. Employees were informed of the news on Monday. 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 rebranded from Allied Specialty Vehicles. John Kovatch IV’s grandfather, John “Sonny†Kovatch II, founded the business in 1946, opening its first manufacturing facility in 1950. The company has since grown to become Carbon County’s largest employer, with over 700 staff members. John Kovatch III currently serves as the company’s CEO.
Kovatch IV emphasized that there will be no changes for local employees as a result of the deal. In fact, he expects the workforce at the Nesquehoning site to grow in the coming months.
“This is a great opportunity for all of our employees and customers,†he said.
Excerpts from WFMZ.com:
KME Fire and Rescue, based 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 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 informed on Monday morning.
KME produces heavy-duty vehicles, including fire trucks, garbage trucks, and some military vehicles.
Founded in 1946, the company employs around 700 people.
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