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.
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]
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.
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]