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 .
Fri Dec 30, 2016
LOS ANGELES - Covercraft Industries has announced that it is adding ADCO Products, a supplier of Recreational Vehicle covers and protection accessories, to its stable of brands. This expanded platform will create the largest branded cover manufacturer in the world and will allow the businesses to cross-merchandise existing products into each of their respective markets.
“We are excited to partner with the Covercraft team," says Morgan Ein, General Manager of the RV Division and Vice President of Sales and Marketing of the newly-merged company, as well as the current president of ADCO. "Covercraft’s experience as the leader in vehicle protection products for the automotive market and ADCO’s position as the industry standard in the RV market, enhanced by our PCI line of lawn and garden protective covers, make for an extremely strong alliance. I have known Covercraft and its people for years and the time is right to combine our collective talents to expand both of our product lines.”
“ADCO has the core values and a passion for what they do that is unparalleled in their market segment, making it a perfect union with our vision for Covercraft," Covercraft President Mark Korros says. "The opportunities that this merger presents for both companies are truly exciting and I am looking forward to a successful future. We are enthusiastic about the growth potential of ADCO Products and are committing significant resources to design product development and inventory to help fuel the ADCO business.
"The opportunity to bring many of the Covercraft products into the RV market will help to further solidify ADCO’s position as the RV market’s industry leader. ADCO has been first to market with innovative products for 60 years. We believe that this track record will be further enhanced with the assistance of Covercraft’s world class product development team and manufacturing capabilities. Additionally, we will look forward to bringing exciting new products to the RV OEM market, celebrating Covercraft’s unique designs and technological capabilities.”
“The combination of Covercraft and ADCO will open up a wide range of market synergies for both companies as they are able to cross-sell products and services to each other’s existing customer bases," says Guy Zaczepinski, managing partner with Century Park Capital Partners and Chairman of Covercraft Industries LLC. "This combination creates a company with unbelievable brand equity in the vehicle protection space. We couldn’t be more excited to have Morgan Ein join our company and our board to begin this next chapter for Covercraft.”
ADCO will continue to service its customer base under the ADCO and PCI brand names and will operate as a division of Covercraft Industries. Covercraft is also known for its SeatSaver, LeBra, and Colgan Custom brands. ADCO’s sales and management team members will all transition into similar roles within the merged company. ADCO is one of the market leaders for RV covers and accessories, as well as the official licensee for Winnebago-branded covers.