Grand Vehicle Works (GVW) Holdings Corp. announced today (Aug. 19) the closing of its sale of two subsidiaries, Workhorse Custom Chassis LLC, and Uptime Parts LLC, to International Truck and Engine Corp.
Plans for the sale were first announced in July. Terms of the cash deal were not disclosed.
Based in Highland Park, Ill., GVW Holdings will continue to own and operate Autocar, LLC, a leading manufacturer of severe service vehicles, and Union City Body Co., a contract assembler of step van bodies.
Workhorse, located in Union City, Ind., is a major manufacturer of chassis for Class A motorhomes, buses and walk-in trucks. Uptime Parts, located in West Chicago, Ill., and Reno, Nev., supplies replacement and aftermarket parts for the RV, truck and bus markets Workhorse serves.
“This sale will allow the GVW Holdings management team to rededicate and refocus all of its efforts and vision on Autocar and to create the same success we achieved at Workhorse,” said Andrew Taitz, chairman of GVW Holdings.
International produces International brand commercial trucks, mid-range diesel engines and IC brand school buses and is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets.