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All American Group

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All American Group
All American Group
FormerlyCoachmen Industries Inc
Founded1964 Edit this on Wikidata
Defunct2016
SuccessorInnovative Building Systems
Headquarters
Indiana
,
United States
Area served
United States
Products
  • Class A motorhomes
  • Class C motorhomes
  • Modular homes
  • large scale residential construction projects
  • fifth wheelers
  • travel trailers
  • folding camping trailers
Brands
  • Coachmen
  • Georgie Boy
  • Sportscoach
  • Viking
  • ALL AMERICAN HOMES
  • MOD-U KRAF
Revenue$60.6 million (2009)
Number of employees
612 (2009)
Websitecoachmen.com at the Wayback Machine (archived 2008-03-09)

All American Group (formerly Coachmen Industries) was an American company whose divisions produced pre-fabricated housing, recreational vehicles (RVs) and system-built homes.[1] Based in Elkhart, Indiana, it was founded in 1964 as Coachmen Industries. It was listed on the New York Stock Exchange (NYSE) under the symbol COA[2] until 2009, when it was delisted for failing to maintain continued NYSE listing standards.

History

[edit]

Coachmen Industries was founded by three brothers: Tom Corson, Keith Corson and Claude Corson. The brothers started the company in a 5,000-square-foot (460 m2) plant in downtown Middlebury, Indiana producing 12 travel trailer models, 1 truck camper style and 80 truck caps. Since 1964, Coachmen Companies have produced nearly 600,000 recreational vehicles of all sizes and types.[citation needed]

Following a weakening U.S. economy and rising gas prices, sales within the RV industry dramatically reduced causing financial difficulties for the company.[3] In December 2008, the company sold all of the assets of its RV Group to Forest River, Inc.,[4] a unit of Berkshire Hathaway.[5] Following the sale of its recreational vehicles business, Coachmen Industries changed its name to All American Group in 2009.[6] In the same year, HIG Capital extended a $20 million 2-year financing arrangement to Coachmen Industries to support their working capital needs. The financing package comprised a convertible debt of $10 million and a revolving credit line of a further $10 million.[7]

Another division, All American Specialty Vehicles, a joint venture with ARBOC Mobility, manufactured ADA-accessible buses.[8] All American merged into Arboc in 2011.[9]

The company continued to operate in the modular housing business under the ALL AMERICAN HOMES and Mod-U-Kraf brand names. All American was acquired by Innovative Building Systems in 2011.[10] Innovative Building Systems subsequently filed for bankruptcy in 2016 and closed American Homes and Mod-U-Kraf.[11]

References

[edit]
  1. ^ Datamonitor (June 2008). "Coachmen Industries, Inc. SWOT Analysis". Coachmen Industries, Inc. SWOT Analysis: 1.
  2. ^ Horizon Publishing Co. (February 2006). "Coachmen Industries, Federal Signal Offer Direct-Purchase Plans". DRIP Investor. 15 (2): 2–2.
  3. ^ McCracken, Jeffrey; Francis, Theo; Keeton, Ann (2008-05-13). "Economy Puts Tight Squeeze On RV Makers". Wall Street Journal - Eastern Edition. 251 (112): B1–B2.
  4. ^ "Coachmen Industries Conference Call to Discuss Sale of RV Group - Final". Fair Disclosure Wire (Quarterly Earnings Reports).
  5. ^ "Elkhart Truth". Etruth.com. 2014-01-24. Archived from the original on 2011-07-18. Retrieved 2016-02-28.
  6. ^ Datamonitor (December 2010). "SWOT Analysis". Coachmen Industries, Inc. SWOT Analysis: 1–8.
  7. ^ Marino, Jonathan (2009-11-02). "HIG Capital Makes Coachmen Investment". Mergers & Acquisitions Report. 22 (44): 15–15.
  8. ^ "Speciality Vehicles". Archived from the original on February 9, 2011. Retrieved March 10, 2011.
  9. ^ "Arboc, All American Specialty merge". www.metro-magazine.com.
  10. ^ Modular Manufacturers Look Past Soft 2011 for Growth
  11. ^ maddie.gehling@thmedia.com, MADDIE GEHLING. "80 out of jobs as All American Homes in Dyersville closes its doors". TelegraphHerald.com.
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