Navistar Sells RV Assets to Fleetwood Parent
May 16, 2013
Filed under RV News
Navistar Inc. announced today (May 16) that Allied Specialty Vehicles (ASV), a producer of specialty vehicles and parent to motorhome builder Fleetwood RV Inc., has purchased certain assets of Navistar RV.
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. ASV has also 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.
“ASV is honored to welcome all of the existing Monaco, Holiday Rambler, R-Vision, Beaver and Safari customers and an exceptional network of dealer partners to the ASV family,” said Peter Guile, CEO of Orlando, Fla.-based ASV. “The ASV team is committed to providing our customers and dealers with exceptional product, service and support, 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 named Mike Snell the president of Monaco and Holiday Rambler. Snell has spent more than 20 years with Monaco, serving as a longtime executive for Monaco Coach Corp. and most recently as vice president of sales for Monaco RV under the Navistar umbrella.
For his part, Navistar COO Jack Allen said the company will “continue to focus on [its] North America core businesses and the sale of Navistar RV represents another important step in our Return-On-Invested-Capital review process.” He added that Monaco, Holiday Rambler and R-Vision are “three strong brands,” and “ASV will be able to create more value in the business than we could ourselves.”