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

Allison,Cummins hybrid-electric system recieves CARB certification

Allows sales of model year 2015 Allison H 40/50 EP™ hybrid propulsion system paired with the Cummins ISB6.7 and ISL9 diesel-electric hybrid engines for transit buses and coaches.

N.Y. MTA expands courtesy ads to bus system

The campaign is similar to the one developed for subways, with the focus on reminding passengers that avoiding certain behaviors can ensure a faster and more pleasant ride for everyone. Reminders include step aside to let others off first; remove your backpack; and don’t clip your nails on the bus.

Bridj to launch D.C. service

While Founder Matt George is interested in connecting Capitol Hill, K Street and Dupont Circle, it’s not yet clear if those will be the neighborhoods Bridj starts with. The start-up is encouraging interested customers to request specific routes on its website

New Flyer wins N.Y. CNG bus contract

The contract for 110 XN40 buses contains a firm order for 52 buses with options for an additional 58 buses and is valued at approximately $53 million dollars.

CCW to provide Iowa with rebuilt artics

Des Moines Area Regional Transit's 60-foot low floor articulated buses will replace high-floor buses and include newly installed ramps, remanufactured power trains, transmissions, engines and brakes. It will also be equipped with two ADA compliant wheelchair lifts.

See More News

Post a Comment

Post Comment

Comments (0)

Please sign in or register to .    Close