Fleetwood Parent Acquires Navistar RV

[DriVer]

Late Breaking News:

Fleetwood Parent Acquires Monaco RV

Navistar RV has been sold to an equity firm that will see the Monaco, Holiday Rambler and R-Vision brand names setup as a separate division of Fleetwood RV. it's is not expected that anything will change at the former ...Navistar RV at the corporate level and that the company will operate in parallel to Fleetwood RV.

This was not too long in coming since we saw and heard from a Bill Osborne interview that Navistar might be looking for a suitable buyer that would carry forward the brand name.

ORLANDO -- Allied Specialty Vehicles (ASV), the parent company of Fleetwood RV, today announced the purchase of the Monaco, Holiday Rambler and R-Vision recreational vehicle businesses and a collection of iconic brands, including Beaver and Safari (among others) from Navistar, Inc.

Complete story .....

[topdownman]

Fleetwood is a big organization, this is probably good news.

[MaverickBBD]

Religious Bovines! Here I was try to decide between the American Eagle or wait for the 2014. Kind of throws some mud into the puddle of decision making.

[DriVer]

Allied Specialty Vehicles has lost no time in installing both the Monaco and Holiday Rambler logos on their corporate website.

See attachment ...

ASV Website

[MaverickBBD]

Originally Posted by DriVer

Allied Specialty Vehicles has lost no time in installing both the Monaco and Holiday Rambler logos on their corporate website.

See attachment ...

ASV Website

Oh no, there was NO insider advance notification given here. Excuse me while I go check the market.

[DriVer]

News Release Issued: May 16, 2013 (8:45am EDT)

Navistar Sells Recreational Vehicle Business

Sale Represents Another Important Step in Company's Turnaround Plan

LISLE, Ill., May 16, 2013 /PRNewswire/ -- Navistar, Inc., confirmed today thatAllied Specialty Vehicles (ASV), a leading $1 billion sales producer of specialty vehicles to the Fire & Emergency, Commercial & Industrial and recreational vehicles markets worldwide, has purchased certain assets of Navistar RV, a leading manufacturer of motorized and towable recreational vehicles, which includes the Monaco®, Holiday Rambler™ and R-Vision™ brands.

The purchase 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.

"We continue to focus on our North America core businesses and the sale of Navistar RV represents another important step in our Return-On-Invested-Capital review process," said Jack Allen, Navistar chief operating officer. "These are three strong brands with world-class products and ASV will be able to create more value in the business than we could ourselves."

About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial and military trucks, MaxxForce® brand diesel engines and IC Bus™ brand school and commercial buses. The company's subsidiaries and affiliates also produce truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com/newsroom.

[cb5300]

I don't know if this is such a good thing or not...

[Muddypaws]

Funny. Ironic. Payback's a B.

The DW and I were looking at several Monaco coaches and when the sales douche found out we had a Bounder he made several rude, crude, and disparaging comments about Fleetwood in general and Bounders specifically. (That dealership went out of business a few months later)

Now they're going to be step-sisters! It's like daddy got re-married and chose the girl from the wrong side of the tracks!

[vtwinwilly]

I can't tell from reading the article if the sale included Road Master Chassis. Seems to me I remember reading that when Navistar purchased Monaco, it was Road Master they were really after.

Does this mean that the Monaco Signature will now be built on the Fleetwood Power Bridge chassis?

Just speculating out loud!

[Kathryn]

Originally Posted by cb5300

I don't know if this is such a good thing or not...

Certainly better than Monaco just flat out closing down! They have a distinct, high quality product, and it sounds like they are going to be able to carry that forward.

Kathryn

~~~

[SteveSkinner]

This is a fantastic outcome for us Monaco Owners.I own an expensive aero plane built by Mooney Aircraft Corp.
The thought of not being able to buy parts or resell a $300k plane really takes your breath away. They've gone broke a few times nowm, been bought, sold etc
I think with a steady hand at the helm we should have confidence in the brand going forward

[Mekanic]

Originally Posted by cb5300

I don't know if this is such a good thing or not...

X2 on that.

"buy outs", "mergers",......
Whatever you call them I too have seen plenty. and I have Never seen one where the new parent company is interested in improving quality over what he old company did.
Every time one of the smaller companys gets gobbled up the competition for the end consumer's money gets eroded away little by little.

For all our good I hope I'm wrong on this.

[deSanford]

This has been posted above. deSanford

Navistar Inc. confirmed today that Allied Specialty Vehicles (ASV), a $1 billion sales producer of specialty vehicles and parent to motorhome builder Fleetwood RV Inc., has purchased certain assets of Navistar RV.
According to a news release, 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 announced that Mike Snell has been named as president of Monaco and Holiday Rambler. Snell has logged over 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.
“ASV is pleased to welcome Mike Snell as president of Monaco and Holiday Rambler,” said Guile. “Mike has made an invaluable contribution to the Monaco brands and the industry over his 20-year career with Monaco RV, and we look forward to his leadership during this new, exciting phase of growth.”
“We join the ASV family fully energized with worthy goals and high hopes as we jointly work to rebuild our iconic and proud RV industry brands,” commented Mike Snell. “With the commitment and support of ASV we’ll focus on developing innovative, distinct and aspirational products in keeping with the long and rich tradition of our brands. I look forward to working with our team, our dealers and our customers to make this vision a reality.”

[wwalpole]

Come on people, the glass is half full, not half empty. Us Monaco owners have been through some trying times, this has to be some positive news. Navistar is trying to get back on it's feet. I think this is a win win situation for everyone. Good luck to every one.