Rev Group and Terex Corp. entered into a definitive merger agreement to merge in a stock-and-cash transaction. Terex Corp. is a global industrial equipment manufacturer. The company makes materials processing machinery, waste and recycling solutions, mobile elevating work platforms (MEWPs) and electric utility industry equipment.
Although the deal is announced as a merger, Terex Corp.’s shareholders will own 58% of the merged company. Terex CEO Simon Meester will be the president and CEO of the new company. The new company’s board of directors will have 12 directors, seven of whom will be from the Terex board. The combined company will remain a publicly traded company, listed on the New York Stock Exchange under the symbol TEX, the current listing for Terex Corp.
Meester told investors on a conference call that the RV business was not a top priority as the companies are combined.
“When it comes to the RV business, first and foremost we are going to focus on the things that we are announcing today—the integration of the two companies, the execution on the synergies and then the aerials exit,” he said. “Going forward, we will continue to assess the effectiveness of our portfolio, as both companies have done and will continue to do, and just make the right decisions for our shareholders.”
A Rev Group spokesperson said leaders were unavailable to comment Thursday on the RV business’ future beyond the investor conference call.
Rev Group’s Recreational Vehicles Segment includes motorhomes built under brands including Fleetwood RV, Holiday Rambler, American Coach, Midwest Automotive Designs and Renegade RV. In 2024, the Recreational Vehicles Segment comprised 27.5% of Rev Group’s total sales.
In the first nine months of 2025, Terex Corp.’s ongoing businesses posted $2.5 billion in total sales—more than the $2.1 billion registered in all of 2024. Within the combined company, Recreational Vehicle Segment sales would comprise 14.5% of total sales.
The companies said they expect $75 million in synergy sales in 2028, with half the synergies realized within the first year. The deal is expected to close in the first half of 2026. Terex said the company will initiate a process to exit its Aerials segment as part of the merger transaction.
Rev Group CEO Mark Skonieczny said, “Joining forces with Terex is a natural evolution of our strategy of building a stronger, more profitable and scaled company by bringing together two highly respected organizations with shared values and a commitment to innovation, operational excellence and customer success.”
Rev Group shareholders will receive $8.71 in cash and 0.9809 of a share for each share they hold. The total cash paid to Rev Group shareholders will be $425 million.
“This transaction represents a transformative step for both companies,” Meester said. “By combining our complementary portfolios and leveraging our collective strengths, we are creating a large-scale, diversified industrial leader well-positioned to capitalize on long-term secular growth trends. The transaction will unlock significant value for both Terex and Rev Group shareholders and creates exciting opportunities for our team members and customers by strengthening our ability to invest in the combined business, innovate and deliver quality solutions.”
The transaction occurs four months after Rev Group sold Lance Camper. The sale consolidated Rev Group’s RV operations in northern Indiana.
