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 .
Thu Apr 27, 2017
MILWAUKEE - REV Group has announced the acquisition of Ferrara Fire Apparatus, Inc., a leading custom fire apparatus and rescue vehicle manufacturer that engineers and manufactures vehicles for municipal and industrial customers. The Ferrara product portfolio includes multiple fire apparatus configurations tailored to the specific requirements and demands of the fire service industry – including custom-builds on their own chassis as well as solutions on commercially available chassis such as Freightliner and International.
This acquisition enhances REV’s product offering in its Fire Group within its Fire & Emergency segment, particularly with custom chassis pumpers, aerials and industrial apparatus, according to a press release.
“We are pleased to welcome Ferrara to the line-up of our premier portfolio of fire brands which includes E-ONE and KME,” REV Fire Group President Dan Peters says. "The Ferrara brand has a long history of product innovation built around a commitment to heavy duty vehicle construction. The addition of Ferrara to the REV Fire Group enables a number of new growth opportunities including expansion of our reach nationwide and adding new geographical regions and key accounts. We look forward to building upon the success of the Ferrara brand with an emphasis on driving new product innovation and exceeding customers’ expectations.”
“We are extremely pleased to have Ferrara Fire Apparatus join our team at REV," REV Group CEO Tim Sullivan says. "Ferrara further strengthens our brand offering of fire apparatus vehicles and market presence, adding a diverse product portfolio that is complementary to our line of great American-made specialty vehicles. Ferrara will immediately contribute strategic value by expanding the REV Fire Group national footprint, dealer sales network, service and after-market parts revenue as well as enhancing our robust line of custom chassis and aerial products for multiple market segments.”
Headquartered in Holden, Louisiana, Ferrara employs more than 450 employees with annual revenue of about $140 million. The acquisition of Ferrara Fire Apparatus, Inc. closed on April 25. Contemporaneous with the acquisition, REV has refinanced its debt facilities to include a new $350 million Asset Based Lending revolving credit facility and a $75 million 5-year Term Loan. Details are available in the 8-K filed with the SEC.