Another Acquisition For REV Group
By Mike Brezonick15 January 2018
REV Group, a $2.3 billion manufacturer of specialty vehicle brands and provider of parts and services, said it has acquired Lance Camper Manufacturing Corp. No financial details were provided.
Founded in 1965, Lance Camper designs, engineers and manufactures a range of truck campers, towable campers and toy haulers at its campus in Lancaster, Calif. The company employs more than 550 associates and generates approximately $100 million in annual revenue.
REV said the deal allows it to meaningfully enter the rapidly growing over $10 billion towables segment of the RV market by adding Lance Campers’ premium portfolio towable products to REV’s existing suite of motorized offerings.
“This acquisition is well aligned across all of our acquisition criteria,” said REV CEO Tim Sullivan. “Lance Camper adds one of the highest quality towable lines in the U.S. and provides a significant new avenue of growth in our RV segment.”
Lance Camper will continue to be led by its innovative founders, Jack Cole and Jeff Souleles. The acquisition of Lance Camper was closed on Jan. 12.
The Lance acquisition was just the latest in a line of acquisitions and ventures announced by REV over the past weeks. In early January, REV announced that its REV Coach LLC subsidiary was awarded the Daimler AG’s bus division North American sales rights to Setra brand coaches. Then in early December, REV established a joint venture with China’s Chery Holding Group to manufacture RVs, ambulances and other specialty vehicles for distribution within China and select international markets.