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

CCW touts cost-effective solution to California electric bus mandate

Remanufactures used, internal-combustion engine buses into like-new vehicles containing ZEPS all-electric drivetrain systems.

Toronto to add 10 more New Flyer battery-electric buses

The original contract was TTC’s first transit bus order from New Flyer since 1999, and has an additional 20 options remaining.

Big Blue Bus making real-time signs, lighting, and Wi-Fi upgrades

The advancements are underway and expected to be completed by mid-2019.

Complete Coach Works launches new website

The new website gives users a seamless transition from desktop to mobile browsing.

SEPTA exercises options for more New Flyer hybrid-electric buses

Purchase supports agency’s program, focused on achieving sustainability through a “triple-bottom-line” approach.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation