Global Expedition Vehicles LLC, a Springfield-based maker of a suite of off-road recreational vehicles, has been acquired.
Birmingham, Alabama-based Storyteller Overland, an outdoor lifestyle brand that works in the adventure vehicle manufacturing space, is the buyer. The financial terms were undisclosed in a news release.
"We are confident that Storyteller Overland has the vision and expertise to build on the legacy of standard-setting, premium -quality, boutique-style expedition vehicles that GXV has been synonymous with for 17 years," said Rene Van Pelt, co-founder and owner of Global Expedition Vehicles with her husband, Mike Van Pelt, in the release. "The rugged adventure trucks that we build are a natural progression, the next step up for Storyteller customers in the line of overlanding vehicles. This merger will allow both companies to grow and expand in a collaborative production of the Adventure Truck Series together."
Global Expedition Vehicles builds off-road vehicles designed to withstand harsh conditions. The company consolidated its operations into Springfield in 2017, according to past reporting.
Global Expedition Vehicles will keep its name, with Mike and Rene Van Pelt serving as president and vice president, respectively, according to the release. Some production will move to Storyteller in Alabama, while some will remain in Springfield.
"This merger is an exciting moment for the entire overlanding community," said Jeffrey Hunter, founder and CEO of Storyteller Overland, in the release. "We are grateful for our partnership with the Van Pelts and the stellar team they have built at GXV."
The expanded facility is expected to reach annual revenue of $650M.