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Merit exits Ferrara Fire Appartus

Merit Capital Partners has sold Holden, Louisiana-based Ferrara Fire Apparatus, a custom fire apparatus and rescue vehicle manufacturer. The buyer is REV Group Inc. No financial terms were disclosed. Lincoln International served as financial adviser on the deal.


CHICAGO, IL – Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that it has represented Merit Capital Partners (“Merit”) and Management in the sale of Ferrara Fire Apparatus, Inc. (“Ferrara” or the “Company”) to REV Group, Inc. (NYSE: REVG). Terms of the transaction were not disclosed.

Founded in 1988 and headquartered in Holden, Louisiana, Ferrara is a leading custom fire apparatus and rescue vehicle manufacturer that engineers and manufactures vehicles for municipal and industrial customers. Ferrara’s product portfolio includes multiple fire apparatus configurations tailored to the specific requirements and demands of the fire service industry – including custom-builds on their own chassis as well as solutions on commercially available chassis. The Ferrara brand has a long history of product innovation built around a commitment to heavy duty vehicle construction. The Company employs more than 450 employees with annual revenue of approximately $140 million.

Ben Yarbrough, Managing Director at Merit, said, “Lincoln’s specialty vehicle experience, buyer knowledge and senior banker commitment were critical in achieving an excellent outcome for Ferrara’s shareholders.”
Lincoln acted as the exclusive financial advisor, working closely with shareholders and management throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.

About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and joint venture and partnering advisory services on a wide range of transaction sizes. With eighteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior level attention, in depth industry expertise and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest.

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