New York, NY, August 24, 2010 – American Industrial Partners Capital Fund IV, L.P. (“AIP”) is pleased to announce the formation of Allied Specialty Vehicles, Inc. (“ASV” or the “Company”). ASV, with revenue of approximately $1 billion, is a market leader in three industry segments: Fire & Emergency, Recreational Vehicles, and Bus & Industrial. The Company was formed through the combination of four existing portfolio companies of AIP: E-ONE, Inc, Collins Industries, Inc., and Halcore Group, Inc.; with Fleetwood RV, Inc. to be combined in the fourth quarter of this year.
Within the Fire & Emergency segment, ASV offers an extensive line of fire apparatus under the E-ONE brand name including pumpers, aerials, tankers, rescues, and airport firefighting equipment. Additionally, the Company offers a full line of ambulances under the Horton, Wheeled Coach, American Emergency Vehicles and Leader Emergency Vehicles brand names. Within the Recreational Vehicle segment, the Company produces Class A and Class C Recreational Vehicles under many of the industry’s iconic brand names including Discovery, American Coach, Bounder, and Tioga, among others. Within the Bus & Industrial segment, the Company produces Type A bus products for both the school and childcare markets under the Collins, Mid Bus, and Corbeil brand names as well as terminal trucks and street sweeper products under the Capacity and Lay-Mor brand names.
The Company will be led by President and CEO Randall Swift, who has many years of experience partnering with AIP through its Collins Industries holding. Each division will continue to be led by its existing president and CEO which includes Peter Guile (E-ONE), John Draheim (Fleetwood RV), Robert Collins (Wheeled Coach), Kent Tyler (Collins Bus, Mid Bus, Corbeil Bus), Mark VanArnam (American Emergency Vehicles), Phillip Ford (Capacity and Lay-Mor), and Gary Hunter (Leader Emergency Vehicles).
“Allied Specialty Vehicles represents many of the top brand names in their respective markets together with one of the most experienced and successful leadership teams in the specialty vehicle industry. We are all excited by the potential of this combination of businesses to leverage our respective strengths and market positions and grow ASV” commented Randall Swift, President and CEO of ASV.
For additional information on Allied Specialty Vehicles, Inc. please visit www.alliedsv.com.
About American Industrial Partners
American Industrial Partners is an operationally focused middle market private equity firm comprised primarily of multidisciplined engineers and experienced operators which makes control investments in North-American based industrial businesses and implements strategies to grow the earnings of those businesses. AIP has managed three prior funds which totaled over $1 billion and is currently investing its fourth fund, $405.5 million American Industrial Partners Capital Fund IV, LP. For more information, visit www.aipartners.com or American Industrial Partners can be reached at 212-627-2360.