M&A Deal Summary

American Industrial Partners Acquires REV

On August 25, 2010, private equity firm American Industrial Partners acquired automotive company REV

Acquisition Highlights
  • This is American Industrial Partners’ 4th transaction in the Automotive sector.
  • This is American Industrial Partners’ 14th transaction in the United States.
  • This is American Industrial Partners’ 2nd transaction in Wisconsin.

M&A Deal Summary
Date 2010-08-25
Target REV
Sector Automotive
Buyer(s) American Industrial Partners
Deal Type Consolidation

Target

REV

Milwaukee, Wisconsin, United States
REV is a diversified manufacturer of specialty vehicles to North America, as well as export markets. The company operates in three industry segments, Commercial, Fire & Emergency and Recreation Vehicles, and owns 27 vehicle brands. Within the Fire & Emergency segment, REV offers an extensive line of fire apparatus under the E-ONE and KME brand names. Additionally, the Company offers a full line of ambulances and rescue vehicles under eight different brand names, including AEV, Horton, Road Rescue and Wheeled Coach. Within the Recreation Vehicle segment, the Company produces Class A, Class B, and Class C recreation vehicles under the iconic names of American Coach, Monaco Coach, Holiday Rambler, Fleetwood RV and Renegade RV. Within the Commercial segment, the Company produces commercial, school and luxury buses under eight different brand names, including Champion, Collins, Federal, and Krystal. The REV Commercial segment also builds terminal trucks and street sweepers under Capacity and LayMor, respectively.

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Buyer(S) 1

Buyer

American Industrial Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

American Industrial Partners is a private equity firm focused on investments in North American manufacturing or industrial service companies. For platform acquisitions, the Firm seeks businesses with at least $500 million of revenue and the Firm will consider transactions valued up to $2 billion. Operating characteristics of prospective businesses include historical record of strong free cash flows, opportunities to drive value through operating enhancements, and sustainable competitive advantages. American Industrial Partners will consider a variety of transaction types including leveraged buyouts, structured equity investments, bridge financings, senior debt, carve-outs, take privates, turnarounds, and rescue financings. American Industrial Partners was formed in 1989 and is based in New York City.

DEAL STATS #
Overall 14 of 53
Sector (Automotive) 4 of 6
Type (Consolidation) 1 of 2
State (Wisconsin) 2 of 2
Country (United States) 14 of 46
Year (2010) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-25 E-One

Ocala, Florida, United States

E-ONE, Inc. ('E-ONE') is one of the world's leading suppliers of fire rescue vehicles including aerials, pumpers, rescues, mobile command centers, and aircraft rescue fire fighting (ARFF) vehicles. E-ONE has one of the largest installed bases in the industry and sells one of the broadest product lines covering nearly every type of fire rescue apparatus. Throughout its history, E-ONE has been synonymous with quality and innovation and its products are distributed by one of the industry?s leading dealer networks. E-ONE is headquartered in Ocala, FL and sells its products worldwide.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-20 NWH

Frisco, Texas, United States

NWH is a manufacturer and distributor of North American hardwood lumber. The company serves the repair and remodel, residential construction, industrial, and export markets. The company converts hardwood logs into a rough cut and kiln-dried lumber, and then planes and sorts the lumber boards into an array of grades for appearance wood applications. NWH is based in Frisco, Texas.

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