Founder John C. Crean Products Recreational vehicless Ceased operations 2010 | Defunct 2010 Founded 1950 | |
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Fate Acquisition by private equity firm Parent Allied Specialty Vehicles Headquarters Riverside, California, United States Subsidiaries Fleetwood Homes of Tennessee Inc | ||
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Fleetwood Enterprises, Inc. was a producer of recreational vehicles (RVs), mobile homes, and manufactured housing. Founded in 1950, after a series of financial difficulties in the 21st century, the company was broken up, with manufactured housing bought by Cavco Industries and RVs incorporated by a private equity firm into what became Allied Specialty Vehicles which has now formed as a collective manufacturer for Fleetwood RV, American Coach, Monaco, Holiday Rambler, and Trek recreational vehicle brands.
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20th century
Fleetwood Enterprises' origins date back to 1950, when John C. Crean formed Coach Specialties Company in southern California, as a maker of window blinds for travel trailers. Around 1953, Crean renamed the company to Fleetwood Trailer Company, a name inspired by the automotive bodies incorporated into various Cadillac lines of automobiles. In 1957, the company was reincorporated as Fleetwood Enterprises, Inc.
During its first dozen years, the company moved from Compton to Paramount to Anaheim. It moved again in 1962 to Riverside, California. Fleetwood became a public company in 1965, reporting annual sales of $18.5 million.
The company became part of the Fortune 500 in 1973, remaining there for nearly three decades. By 1989, Fleetwood RVs sales reached the one billion dollar milestone; five years later, it hit the same milestone in its sales of manufactured homes.
21st century
In 2007, it was declared the top-selling manufacturer in its market, but it was announced in November 2008 that Fleetwood Enterprises was closing several factories across the United States.
On March 10, 2009, the company filed for bankruptcy under Chapter 11 of the United States Code, and announced the closing of its travel trailer division.
On July 17, 2009 the private equity firm American Industrial Partners ("AIP") acquired the motorized recreational vehicle assets from the company. The next month, Cavco Industries acquired the manufactured housing division. Fleetwood RV are now headquartered in Decatur, Indiana. In 2010, AIP combined Fleetwood with E-One, Collins Industries and Halcore Group to form Allied Specialty Vehicles.
On February 2, 2010 Heartland Recreational Vehicles acquired the remaining active trademarks of the towable brands of Fleetwood Enterprises, Inc.