Krystal, Federal Coach Owning Company Gets New CEO

Posted on August 19, 2014

ORLANDO, Fla. -- Allied Specialty Vehicles, Inc., the owner of the KrystalFederal Coach and El Dorado National bus lines, appointed Timothy W. Sullivan on Aug. 11 as its CEO.

John Becker, Partner of American Industrial Partners, ASV’s majority shareholder, and Chairman of ASV, said in a statement: “As CEO of Bucyrus International, Inc., Tim grew the business more than tenfold over a decade and created one of the world’s leading and most valuable diversified producers of mining equipment. Tim is one of the most talented CEOs we have worked with and his experience and capabilities are particularly well suited for ASV.”

Sullivan succeeds Peter Guile, President and CEO of ASV since January 2012, who will remain on the Board of Directors. Before taking the CEO title, Guile served as CEO of E-ONE Inc., a subsidiary of ASV.  “We would like to thank Peter for his significant contribution to ASV’s growth over the past seven years," Becker said. “ASV is performing strongly today and has leadership positions in growing, attractive end markets. We look forward to Peter’s continued involvement as an advisor to the Board of Directors.”

Sullivan joined Bucyrus International, Inc. in June 1976 and held various senior management positions before becoming CEO in January 2000, having returned to Bucyrus after serving as the CEO of United Container Machinery. In the decade after becoming Bucyrus CEO, Sullivan grew revenue 14 fold to $3.8 billion, EBITDA 850-fold to $850 million, and employment 12 fold to 11,800.

After leading the eighth best performing initial public offering in the U.S. in 2004, Bucyrus was the 25th and the eighth fastest growing company in the U.S. in 2009 and 2010 respectively. Sullivan retired from Bucyrus in July 2011 after completing the sale of the company to Caterpillar, Inc. and growing shareholder value more than 1,500% between 2004 and 2010. From July 2013 to June 2014, Sullivan was the Chairman and CEO of Gardner Denver, Inc, a KKR owned portfolio company.

“I look forward to working with ASV’s employees, dealers and suppliers to deliver winning products and solutions to the Company’s customers,” Sullivan said in a statement. “ASV’s scale, diversity, talented employee base, and strong brand portfolio are unique in the specialty vehicle market and I look forward to the many growth opportunities ahead.”

Timothy Sullivan is a past Director of Bucyrus International, Inc., Children’s Hospital of Wisconsin, Cliffs Natural Resources, Inc., Crosby, Inc., Generac, Inc., Greater Milwaukee Committee, Milacron, Inc., Southeast Wisconsin Business Health Coalition, Medical College of Wisconsin, Milwaukee School of Engineering, National Mining Association in Washington, D.C., Northwestern Mutual Life Insurance Company and the University of Wisconsin Milwaukee Business Advisory Council.

Sullivan earned a Bachelor of Science degree in Business Administration from Carroll University in 1975 and a Masters in Business Administration from American Graduate School of International Management in 1976.

Allied Specialty Vehicles
ASV is one of North America’s leading manufacturers of specialty vehicles serving three market segments: Commercial, Fire & Emergency and Recreational vehicle markets. Within the Commercial segment ASV offers a full line of buses, terminal trucks and sweeper vehicles. The Fire & Emergency segment offers a full line of Fire Apparatus and Ambulances. Within the Recreational Vehicle the company produces motorized RV's under many of the industry’s most iconic brands.

Source: ASV

LCT related article: New Owners Put Krystal, Federal Coach On Solid Growth Path

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