Allied Specialty Vehicles (ASV) has acquired Monaco and other brands from Navistar's recreational vehicle (RV) business.
ASV is the parent company of Collins Bus Corp. Navistar is the parent company of IC Bus.
Navistar officials said that the sale is "another important step" in the company's turnaround plan.
The deal, in which ASV purchased all equity interests of Navistar RV, includes the manufacturing operations for Navistar's R-Vision and Holiday Rambler towable units in Harrisburg, Ore., and its Monaco and Holiday Rambler brand motorized RVs in Wakarusa, Ind. The Beaver and Safari brands are also included.
“ASV is honored to welcome all of the existing Monaco, Holiday Rambler, R-Vision, Beaver and Safari customers and an exceptional network of dealer partners to the ASV family,” said Peter Guile, CEO of ASV. “The ASV team is committed to providing our customers and dealers with exceptional product, service and support, and we are fully committed to re-establish the product leadership and extraordinary reputation for innovation, quality and service for which the Monaco family of brands has been known.”
ASV has also entered into a multi-year leasing agreement for Navistar RV's Elkhart, Ind., facility. The sale does not include Bison Coach, Navistar's horse trailer manufacturing business.
"We continue to focus on our North America core businesses, and the sale of Navistar RV represents another important step in our Return-On-Invested-Capital review process," said Jack Allen, Navistar's chief operating officer. "These are three strong brands with world-class products, and ASV will be able to create more value in the business than we could ourselves."