LONDON, UK / ACCESSWIRE / January 17, 2018 / Active-Investors.com has just released a free research report on REV Group, Inc. (NYSE: REVG) ("REV"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=REVG as the Company's latest news hit the wire. On January 12, 2018, the Company declared that it has signed an agreement to acquire Lance Camper Manufacturing Corp. ("Lance Camper"). The financial details of the transaction remained undisclosed. Following the acquisition, Lance Camper's Founders, Jack Cole and Jeff Souleles, will continue to lead the Company. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, REV Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Strategic Benefits of the Acquisition
This agreement will add Lance Camper's premium portfolio of truck campers, towable campers, and toy haulers to REV's existing suite of motorized offerings, thereby providing the latter an opportunity to enter the rapidly growing, over $10 billion towables segment of the RV market. Lance Camper can also leverage REV's scale and footprint in the RV industry to rapidly expand its distribution and further accelerate its growth.
REV Formed a Strategic Alliance with Daimler Buses
On January 04, 2018, REV's subsidiary, REV Coach LLC, was awarded the Daimler AG's bus division North American sales rights to Setra Brand Coaches ("Setra"). Beginning January 2018, REV will be responsible for selling Setra motor coaches in the US and Canada. REV Coach succeeds touring coach manufacturer Motor Coach Industries International Inc. as Daimler Buses general distributor in North America. Motor Coach Industries International Inc. will remain in charge of after-sales service until June 29, 2018. Starting July 01, 2018, REV Coach will also be responsible for Setra's after-sales service. In addition to distribution of Setra coaches, the parties also agreed to a strategic partnership to jointly explore further opportunities in the North American market in the future.
REV's Acquisition Deals in 2017
- On April 13, 2017, REV purchased Midwest Automotive Designs, a leading custom van "upfitter' that developed and manufactured luxury vehicles for end segments including motorhomes, shuttle vans, limousines, and customized executive transportation vehicles. This acquisition enhanced REV's product offerings in both its Recreation and Commercial segments through the RV and bus divisions, by adding a selection of Class B RVs and multiple products for the luxury Limousine, Charter, and Tour Bus markets, respectively.
- On April 25, 2017, the Company acquired Ferrara Fire Apparatus, Inc. The Ferrara product portfolio included multiple fire apparatus configurations tailored to the specific requirements and demands of the fire service industry. This acquisition enhanced REV's product offering in its Fire Group within its Fire & Emergency segment, particularly with custom chassis pumpers, aerials, and industrial apparatus.
About REV Group, Inc.
Founded in 2010 and headquartered in Milwaukee, Wisconsin, REV is a leading designer, manufacturer, and distributor of specialty vehicles and related aftermarket parts and services. The Company serves a diversified customer base primarily in the United States through its three segments, namely (i) the Fire & Emergency segment, (ii) the Commercial segment, and (iii) the Recreation segment.
About Lance Camper Manufacturing Corp.
Established in 1965, Lance Camper designs, engineers, and manufactures its lineup of innovative, high quality, and customer-centric products from its state-of-the-art campus in Lancaster, California. The Company has built a tremendous reputation as a leader in the towable RV industry and has the number one selling truck camper in the US. Lance Camper employs over 550 associates and generates approximately $100 million in annual revenue.
Stock Performance Snapshot
January 16, 2018 - At Tuesday's closing bell, REV Group's stock marginally fell 0.95%, ending the trading session at $31.39.
Volume traded for the day: 532.75 thousand shares.
Stock performance in the last month - up 14.90%; previous three-month period - up 15.74%; and past six-month period - up 21.20%
After yesterday's close, REV Group's market cap was at $2.01 billion.
Price to Earnings (P/E) ratio was at 66.50.
The stock has a dividend yield of 0.64%.
The stock is part of the Consumer Goods sector, categorized under the Recreational Vehicles industry.
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