Investment firm purchases American LaFrance

DaimlerChrysler's Freightliner LLC has reached an agreement to transfer ownership of its fire apparatus and emergency vehicles business unit, American LaFrance, to the New York-based investment firm, Patriarch Partners LLC. Andreas Renschler, the DaimlerChrysler Board of Management member responsible for the Commercial Vehicles Division, said: “Under the ‘Global Excellence’ initiative we are reviewing the portfolio of our commercial vehicle businesses and products. The sale of American LaFrance is a result of this process.” American LaFrance is the country's fifth-largest fire and emergency services vehicle producer with a heritage dating back 173 years. It produces and distributes fire and ...

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