Dec 30, 2016, 1:53pm CST
Dan Shafer, Reporter
Milwaukee Business Journal
REV Group is acquiring Indiana manufacturer Renegade RV for an undisclosed amount.
REV Group, a Milwaukee-based specialty vehicle manufacturer, said in a press release it will make Renegade RV, which makes recreational vehicles, heavy-duty trailers and specialty vehicles, a part of its REV Recreation Group. The group manufactures Class A and Class C motorhomes under the American Coach, Monaco, Holiday Rambler and Fleetwood RV brand names.
“Renegade RV brings a tremendous reputation and a world-class product portfolio that is highly complementary to our line of great American-made motorhomes,” said Tim Sullivan, CEO of REV Group Inc. (and one of our 17 executives to watch in 2017). “We believe Renegade will quickly contribute strategic value to REV’s mission of better serving customer and dealer needs throughout the country.”
Renegade RV is based in Bristol, Ind., which is near Elkhart, the so-called ” RV Capital of the World” that has garnered national attention for being a key region receiving federal funding from the 2009 stimulus package.
Renegade employs approximately 175 people and occupies a 200,000-square-foot production facility. REV Group said manufacturing operations will remain in place and that “all of its employees will continue to be integral to day-to-day operations and future growth plans.”
Jim Jacobs, president of REV Recreation Group, said Renegade RV is now positioned to “become a preeminent brand in multiple motorized RV segments.”
Mike Lanciotti, president of Renegade RV, said, “I am confident that our alignment with REV Recreation Group will provide us with the financial, engineering and manufacturing resources we need to embark on the next phase of growth for our company.”
In the release announcing the acquisition, REV Group also said it is now a $2.2 billion company. In a recent SEC document relating to filing for a $100 million IPO, the company reported $30 million in profits in 2016.
Dan Shafer is a reporter covering manufacturing and the travel and tourism industries for the Milwaukee Business Journal.