M&A Deal Summary

REV Acquires Ferrara Fire Apparatus

On April 25, 2017, REV acquired automotive company Ferrara Fire Apparatus from Merit Capital Partners

Acquisition Highlights
  • This is REV’s 8th transaction in the Automotive sector.
  • This is REV’s 8th transaction in the United States.
  • This is REV’s 1st transaction in Louisiana.

M&A Deal Summary
Date 2017-04-25
Target Ferrara Fire Apparatus
Sector Automotive
Buyer(s) REV
Sellers(s) Merit Capital Partners
Deal Type Add-on Acquisition

Target

Ferrara Fire Apparatus

Holden, Louisiana, United States
Ferrara Fire Apparatus, Inc. is a manufacturer and seller of fire apparatus in the United States and internationally. FFA manufactures over 300 fire trucks per year at its Louisiana facility and sells both directly and through a network of independently owned dealers. Ferrara Fire Apparatus was formed in 1988 and is based in Holden, Louisiana.

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Buyer(S) 1

Buyer

REV

Milwaukee, Wisconsin, United States
Category Company
Sector Automotive
Employees7,045
Revenue 2.3B USD (2021)
DESCRIPTION

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.

DEAL STATS #
Overall 8 of 10
Sector (Automotive) 8 of 10
Type (Add-on Acquisition) 5 of 6
State (Louisiana) 1 of 1
Country (United States) 8 of 10
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-13 Midwest Automotive Designs

Elkhart, Indiana, United States

Midwest Automotive Designs LLC is a provider of custom sprinter conversion vans and specialty Manufacturing Custom & Premium Up-fitter of Vans. Midwest Automotive Designs was formed in 2003 and is based in Elkhart, Indiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-12 Lance Camper Manufacturing

Lancaster, California, United States

Lance Camper Manufacturing Corp. is a designer, engineers and manufacturer of automotive products from its state-of-the-art campus in Lancaster, CA.

Buy -

Seller(S) 1

SELLER

Merit Capital Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 2.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Merit Capital Partners is a private investment firm that targets investments in middle market manufacturing, distribution, and service based businesses. Merit looks for companies generating at least $25 million in sales and at least $4 million in EBITDA. Merit can provide both equity and junior capital financing and looks to commit at least $15 million per transaction. Prospective transaction situations include management buyouts, recapitalizations, growth financings, divestitures, unsponsored transactions, and ESOPs. Merit Capital will not invest in start-ups, turnarounds, real estate, specialty retail, or oil/gas opportunities. Merit Capital was originally known as William Blair Mezzanine Capital and became independent in 2004. Merit was formed in 1993 and is based in Chicago, Illinois.

DEAL STATS #
Overall 35 of 52
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 18 of 27
State (Louisiana) 1 of 1
Country (United States) 35 of 51
Year (2017) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Skyline Windows

Bronx, New York, United States

Skyline Windows is a window designer, manufacturer, and installation company specializing in custom commercial and residential architectural/aesthetic solutions incorporating high-level performance features such as blast, hurricane, and ballistics ratings. Skyline Windows was formed in 1921 and is based in Bronx, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-01 Gartner

Stillwater, Minnesota, United States

Gartner is comprised of Gartner Studios (“Studios”) and Gartner Digital (“Digital”). Gartner Studios is an innovative product development company, . Gartner Digital, with offices in Providence, Rhode Island and Pleasant Grove, Utah, provides design licenses and a “best in class” customization platform, either as a full white-label website or as a SaaS plug-in to an existing website via an application programming interface. Gartner is headquartered in Stillwater, Minnesota.

Buy -
Mergr

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