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 .
Mon Jan 15, 2018
The REV Group, a $2.3 billion manufacturer of industry-leading specialty vehicle brands and leading provider of parts and services, has announced the acquisition of Lance Camper Manufacturing Corporation, according to a press release from the Milwaukee, Wisconsin firm.
“This acquisition enables REV to meaningfully enter the rapidly growing over $10 billion towables segment of the RV market by adding Lance Campers’ premium portfolio of truck campers, towable campers and toy haulers to REV’s existing suite of motorized offerings,” notes the release.
Founded in 1965, Lance Camper designs, engineers and manufactures its lineup of innovative, high-quality, and customer-centric products from its campus in Lancaster, California. Lance Camper has the No. 1 selling truck camper in the U.S. and has won the National RV Dealer Association’s prestigious Quality Circle Award 16 years running. The Company employs over 550 associates and generates approximately $100 million in annual revenue.
After the acquisition, Lance Camper will continue to be led by its innovative founders, Jack Cole and Jeff Souleles. Terms of the acquisition were not released in the press release.
“We’re thrilled to be joining REV’s iconic family of brands,” says Jack Cole, President of Lance Camper, “We look forward to leveraging REV’s scale and footprint in the RV industry to rapidly expand our distribution and further accelerate our growth. We’re an excellent fit given REV’s strong commitment to providing its dealers and customers with premium quality, brand leadership, and continuous innovation, all of which align well with our culture and ambition.”
“We are absolutely delighted to welcome Jack, Jeff, and the entire Lance Camper team into the REV family,” says Tim Sullivan, REV Group CEO. “This acquisition is well aligned across all of our acquisition criteria. Lance Camper adds one of the highest quality towable lines in the U.S. and provides a significant new avenue of growth in our RV segment.”
The acquisition of Lance Camper was closed on Jan. 12.