Monday, April 11, 2016
REV Group Acquires KME
Founded in 1946 and headquartered in Nesquehoning, Pennsylvania, KME has grown to over 800 associates with company operations in Pennsylvania, Virginia, New York, and California. The Company produces a broad portfolio of high quality and customized specialty vehicle products, and markets them to fire-rescue, military, aviation, and industrial customers globally. KME’s products include fire apparatus (pumpers, aerials, tankers), rescue vehicles, and fuel trucks, among others.
“Over a span of 70 years, our family and company associates have proudly served our customers,” stated John Kovatch III, President & CEO of KME. “We are very proud of what our employees have accomplished over that time span and thank them for their hard work and dedication to outstanding customer service. REV Group has great expertise in the specialty vehicle industry and we look forward to even further growth with them in the years ahead,” he added.
Concurrent with the transaction close, John Kovatch III will be leaving his position as KME’s President & CEO, however he will play an integral role during the transition phase as KME becomes part of the REV group. John will interact directly with Tim Sullivan, REV’s Group CEO.
The Company headquarters and its primary manufacturing operations will remain in Nesquehoning, PA. This facility along with other KME facilities in Roanoke, VA; Ontario, CA; Albany, NY; and Rockaway, NJ will continue to be an integral part of their operations. KME also has an extensive independent dealer network that will continue promoting and selling the KME brand and product portfolio worldwide.
“We are extremely excited to have KME join REV Group,” stated Tim Sullivan, CEO. “KME brings a tremendous brand, a talented group of employees and a world class product portfolio that adds to our capabilities to better serve our customers’ and dealers’ needs throughout the country,” he added. “Additionally, John’s breadth of industry experience will be very beneficial after the acquisition and I look forward to working with him. We congratulate him on his leadership over the past several decades which has resulted in the outstanding business that exists today,” Sullivan concluded.
The transaction is expected to close early in the second quarter of 2016.