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 Jan 3, 2017
CHARLOTTE, Michigan - Spartan Motors, Inc. has announced its wholly-owned subsidiary, Spartan Motors USA, Inc., has completed the previously announced acquisition of Smeal Fire Apparatus Co. and its subsidiaries effective Jan. 1.
Smeal was acquired for about $36.3 million (subject to a customary net working capital adjustment), the company's forgiveness of certain liabilities owed by Smeal to the company and a subsequent tax gross-up payment, which is expected to be more than offset by tax benefits accruing to the company.
Smeal generated 2016 revenues of about $100 million, which includes about $30 million of Spartan chassis sold to Smeal. The newly combined Spartan Emergency Response business unit will rank as one of the top-four North American fire apparatus manufacturers in an increasingly consolidating industry. With its expanded geographic reach spanning 44 states in the U.S., 10 provinces and three territories in Canada, the company is even better positioned to deliver a robust and respected portfolio of leading products, services and technologies to its broad range of customers, including original equipment manufacturers and dealers, according to a press release.
"This transaction marks a significant event for our company and we are excited to add Smeal's industry-leading product portfolio and manufacturing expertise to Spartan Motors," CEO and President Daryl Adams says. "The addition of Smeal complements our own Spartan Emergency Response business unit while also allowing us to provide an expanded, innovative product offering to both new and existing customers. We expect the transaction to be accretive to 2017 earnings and accelerate the turnaround of the Spartan Emergency Response business unit."