The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Tue Aug 23, 2016
BIRMINGHAM, Alabama - Protective Life Corporation has reached an agreement through its wholly owned subsidiary, Protective Life Insurance Company, to acquire the Pompano Beach, Florida-based USWC Holding Company and its affiliated operating subsidiaries via a stock purchase agreement. The Acquisition is subject to receipt of standard regulatory approvals and satisfaction of customary closing conditions, according to a press release
USWC, whose primary operating subsidiary is United States Warranty Corp. currently markets vehicle service contracts, GAP coverage and a suite of ancillary automotive maintenance and protection products nationwide. The company’s marketing footprint and product suite complement Protective’s Asset Protection line of business. The acquisition is expected to provide the combined entities with expanded market reach, enhanced product and operational capabilities, and higher collective growth potential. USWC will continue to operate from its current Pompano Beach, Florida location and the existing company leadership and employees will join Protective and continue to manage USWC as part of the transaction.
“Under the leadership of Scott Karchunas, our Asset Protection line of business has been performing well and this transaction is a great way to grow the line of business," Protective COO Richard Bielen says. "The two companies both have a history of quality and success, so putting them together creates the potential for the business to grow even stronger and serve more dealerships with these important products. We are pleased to have the USWC team become part of Protective.”
Closing is anticipated to occur on or after Nov. 1. Upon closing, the acquisition will be counted among a long and successful track record of acquisitions by Protective that includes 48 life insurance acquisitions and six previous acquisitions in the Asset Protection business segment.
Maynard, Cooper & Gale, P.C. acted as external legal counsel for Protective Life Corporation in this transaction. Sandler O’Neill + Partners, L.P. acted as financial advisor to USWC and Greenspoon Marder, P.A. provided external legal counsel.