Fleetwood Enterprises

Fleetwood RV
Fate Acquisition by private equity firm
Founded 1950 (1950)
Founder John C. Crean
Defunct 2010
Headquarters Riverside, California (1962–2010)
Products Recreational vehicless
Parent Allied Specialty Vehicles

Fleetwood Enterprises, Inc. was a producer of recreational vehicles (RVs), mobile homes, and manufactured housing. Founded in 1950, after a series of financial difficulties in the 21st century, the company was broken up, with manufactured housing bought by Cavco Industries and RVs incorporated by a private equity firm into what became Allied Specialty Vehicles which has now formed as a collective manufacturer for Fleetwood RV, American Coach, Monaco, Holiday Rambler, and Trek recreational vehicle brands.[1]

History

20th century

Fleetwood Enterprises' origins date back to 1950, when John C. Crean formed Coach Specialties Company in southern California, as a maker of window blinds for travel trailers.[2] Around 1953, Crean renamed the company to Fleetwood Trailer Company, a name inspired by the automotive bodies incorporated into various Cadillac lines of automobiles.[2] In 1957, the company was reincorporated as Fleetwood Enterprises, Inc.

During its first dozen years, the company moved from Compton to Paramount to Anaheim. It moved again in 1962 to Riverside, California. Fleetwood became a public company in 1965, reporting annual sales of $18.5 million.[2]

The company became part of the Fortune 500 in 1973, remaining there for nearly three decades.[3] By 1989, Fleetwood RVs sales reached the one billion dollar milestone; five years later, it hit the same milestone in its sales of manufactured homes.[3]

21st century

In 2007, it was declared the top-selling manufacturer in its market, but it was announced in November 2008 that Fleetwood Enterprises was closing several factories across the United States.[4]

On March 10, 2009, the company filed for bankruptcy under Chapter 11 of the United States Code, and announced the closing of its travel trailer division.[5]

On July 17, 2009 the private equity firm American Industrial Partners ("AIP") acquired the motorized recreational vehicle assets from the company.[6] The next month, Cavco Industries acquired the manufactured housing division. Fleetwood RV are now headquartered in Decatur, Indiana. In 2010, AIP combined Fleetwood with E-One, Collins Industries and Halcore Group to form Allied Specialty Vehicles.[7]

On February 2, 2010 Heartland Recreational Vehicles acquired the remaining active trademarks of the towable brands of Fleetwood Enterprises, Inc.[8]

References

  1. ↑ http://alliedrecreationgroup.com/
  2. 1 2 3 4 "Gale Directory of Company Histories: Fleetwood Enterprises, Inc.". Gale Directory. Answers.com. Retrieved 2013-06-21.
  3. 1 2 Pierceall, Kimberly (August 18, 2009;republished September 27, 2011). "Fleetwood leaves trail of prosperous times". The Press-Enterprise. Retrieved 2013-06-21. Check date values in: |date= (help)
  4. ↑ Riverside-based Fleetwood Enterprises, years into an attempted turnaround, will be delisted Monday at The Press-Enterprise
  5. ↑ Larson, Erik (March 10, 2009). "Fleetwood Enterprises, RV Maker, Seeks Bankruptcy (Update2)". Bloomberg. Retrieved 20130-06-21. Check date values in: |access-date= (help)
  6. ↑ "American Industrial Partners Completes Acquisition of Fleetwood Motorized Recreational Vehicle Business, Including the Goldshield Fiberglass Supply Business". Press release. American Industrial Partners. July 17, 2009. Retrieved 20130-06-21. Check date values in: |access-date= (help)
  7. ↑ "American Industrial Partners Announces the Formation of Allied Specialty Vehicles, Inc., a Leading Manufacturer of Specialty Vehicles in North America". Press release. American Industrial Partners. August 24, 2010. Retrieved 20130-06-21. Check date values in: |access-date= (help)
  8. ↑ "article, "Heartland Acquires Fleetwood Towable Brands"". Rvbusiness.com. 2010-02-03. Retrieved 2012-01-31.

External links

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