Sale of its Emergency Response Segment to REV Group, Inc.
Baird served as financial advisor to Spartan Motors, Inc. on this transaction
AboutSpartan Motors, Inc. (“Spartan Motors”) (NASDAQ:SPAR) recently completed the sale of its Emergency Response (“Spartan ER”) segment to REV Group, Inc. (“REV Group”) (NYSE:REVG) for approximately $55 million in cash, subject to a net working capital adjustment and assumed certain liabilities of the Spartan ER segment.
Spartan Motors is the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries (including last-mile delivery, specialty service and vocation-specific upfit segments), as well as for recreational vehicle markets. Spartan Motors is organized into two core business segments: Spartan Fleet Vehicles and Services and Spartan Specialty Vehicles. Today, its family of brands also include Utilimaster, Royal Truck Body, Strobes-R-Us, Spartan Chassis, Spartan Authorized Parts, Spartan Authorized Service Centers, and Spartan Factory Service Centers. Spartan Motors and its go-to-market brands are well known in their respective industries for quality, durability, aftermarket product support and first-to-market innovation. Spartan Motors is headquartered in Michigan.
Spartan ER is a leading designer, manufacturer, and distributor of custom fire truck cabs and chassis and complete fire truck apparatus for use by the emergency response industry throughout the United States and Canada, as well as select markets in Latin American and Asia. Spartan ER consists of the chassis operations in Charlotte, Michigan; cab fabrication operations in Madison Heights, Michigan; and apparatus operations in Brandon, South Dakota; Snyder and Neligh, Nebraska; and Ephrata, Pennsylvania.
REV Group is a leading designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. REV Group serves a diversified customer base primarily in the United States through three segments: Fire & Emergency, Commercial and Recreation. REV Group provides customized vehicle solutions for applications including: essential needs (ambulances, fire apparatus, school buses and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles (“RVs”) and luxury buses). REV Group’s brand portfolio consists of 33 well-established principal vehicle brands including many of the most recognizable names within the served markets. Several of the brands pioneered their specialty vehicle product categories and date back more than 50 years. REV Group is headquartered in Milwaukee, Wisconsin.
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- February 2020
- Spartan Motors, Inc.
- Target Location
- North America
- Acquiror Location
- North America