Bus

Allied to acquire Thor Industries for $100 million

Posted on July 31, 2013

Allied Specialty Vehicles (ASV) today announced that it has entered a definitive agreement to acquire the bus business of Thor Industries Inc.  for $100 million in cash, subject to closing adjustments. The transaction is subject to customary closing conditions and is expected to be completed by November 1, 2013.

Thor's bus business includes Champion Bus Inc., General Coach America Inc., Goshen Coach Inc., El Dorado National California Inc., and El Dorado National Kansas Inc., which combined represent one of the largest producers of transit and shuttle buses in North America with bus segment sales of approximately $450 million for the fiscal year ended July 31, 2013.

"We are excited to add the Thor bus business to our diverse line-up of specialty vehicles," said Peter Guile, President/CEO of Allied Specialty Vehicles. "We view the opportunity to expand our business into the transit and shuttle bus markets as a key initiative in broadening our markets and providing products that meet the needs of our dealers and end consumers and we are eager to welcome these new bus brands to the ASV family."

"Although the bus business has been a valuable part of Thor, this transaction allows us to focus on maintaining and growing our leadership position in our core recreation vehicle (RV) business," said Peter B. Orthwein, Thor Chairman.

Thor will continue to own and operate the bus business until the closing date of the sale.

ASV is a +$1 billion manufacturer comprised of industry leading brands serving fire & emergency, recreational and commercial vehicle markets.

View comments or post a comment on this story. (0 Comments)

More News

Albuquerque BRT project exploring full sponsorship

ABQ RIDE is looking to model its plan after the Greater Cleveland Regional Transit Authority’s HealthLine, which is sponsored through a hospital partnership. Construction on the so-called ART system could begin in May 2016 with an in-service date of September 2017.

New luxury bus service launches in San Francisco

The service, which costs $6 a ride, asks riders to download the Leap app, creating an account, uploading a photo and adding a credit card that enables them to pay via a QR code.

4ONE wins multiple bus seating orders

Agencies ordering the company's products, which are now in at least half of all new U.S. and Canadian transit buses, include L.A. Metro, Chicago Transit Authority and New York City Transit.

New Flyer awarded big Las Vegas CNG bus contract

The contract includes a firm order for 35 XN40 and 20 XN60 Xcelsior buses, with an option for another 150 XN40 and 100 XN60 over the next five years. All buses are to be powered by CNG.

Pierce Transit taps Apollo for video surveillance

The decision comes after the agency conducted an analysis and product review period. Implementation of the project began in February and all work is expected to be completed by the end of April.

See More News

Post a Comment

Post Comment

Comments (0)

Please sign in or register to .    Close