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The Shyft Group

The Shyft Group
Leadership team

Mr. Daryl M. Adams (Pres, CEO & Director)

Mr. Jonathan C. Douyard (Chief Financial Officer)

Mr. Todd A. Heavin (Chief Operating Officer)

Products/ Services
Automotive, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Novi, Michigan, United States
Established
1975
Company Registration
SEC CIK number: 0000743238
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
NASDAQ:SHYF
Social Media
Overview
Location
Summary
The Shyft Group, Inc. manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment engineers and manufactures luxury class A diesel motor home chassis; and manufactures and assembles truck bodies under the Royal Truck Body and DuraMag brands. It also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. The Shyft Group, Inc. sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.
History

In 1974, Lansing-based Diamond Reo Trucks filed for bankruptcy. The Form-Rite Corporation of Charlotte, Michigan was owed a significant sum by Diamond Reo, which had been Form-Rite's largest client; Form-Rite had supplied fiberglass parts to Reo. During the bankruptcy hearings, Form-Rite president Charles R. McManamey learned of a significant contract that Reo had just won for custom fire truck chassis. From connections made through the hearing, McManamey was able to draw together the additional talent and knowledge required to build such trucks, and founded Spartan Motors, Inc. as a wholly owned subsidiary of Form-Rite.

During the establishment of Spartan Motors, manufacturing was set up in Form-Rite's 12,000 sq ft warehouse at 426 Sumpter Rd. in Charlotte. Charles McManamey was named Spartan Motors' chairman of the board. Former Reo vice president of engineering and marketing George W. Sztykiel became Spartan's president. Ron Partee, former Reo manager of original equipment manufacturing, stepped in as the vice president of sales. Spartan's vice president of engineering was former Reo director of engineering John Knox. Kenneth C. McManamey, former Form-Rite production engineer and supervisor, served as Spartan's manager of operations.Sztykiel, Partee, Knox, and Ken McManamey all donated their time to build the first chassis on speculation. By January 1, 1976, the chassis was completed. Within weeks it had been sold to FMC in Tipton, Indiana:?30? and Spartan had 16 custom fire truck cab & chassis orders as well as an order for a one-of-a-kind 140,000 pound GVW coal carrier.In March 1976, Spartan Motors employed 12 former Reo employees, including Reo's ex–quality control manager Theodore C. Huff, former staff engineer-chassis at Reo Lawrence E. Karkau, and Gerald L. Geary, who had been assistant manager of truck design at Reo. Spartan was spun-off with its own officers and directors that April.:?30? Charles McManamey's sons James and Donald also worked for Spartan Motors, as well as several other part-time workers. The company quickly outgrew the Form-Rite warehouse, and within a few years construction was started for a new facility on Reynolds Road in Charlotte. The McManameys sold their stock in the company and in 1984 Spartan went public, trading on NASDAQ under the symbol “SPAR”.

In June 2020, Spartan Motors, Inc. announced its corporate name change to The Shyft Group, Inc. following the divestiture of its Emergency Response business unit. It began trading on NASDAQ under the symbol "SHYF".In October 2020, Shyft Group acquired the aluminum truck-body manufacturer F3 MFG Inc. based in Waterville, Maine, with its brands DuraMag and Magnum.

Mission
Our mission is to deliver world-class technology solutions to our customers while maintaining our commitment to excellence and innovation.
Vision
The Shyft Group’s vision is to become the global leader in delivering technology services to the automotive industry.
Key Team

Mr. Stephen K. Guillaume (Pres of Specialty Vehicles)

Mr. Andrew Anderson (Chief Information Officer)

Mr. Juris Pagrabs (Director of Investor Relations & Group Treasurer)

Mr. Joshua Alan Sherbin (Corp. Sec., Chief Legal Officer & Chief Compliance Officer)

Ms. Samara Hamilton (VP of Marketing & Communications)

Ms. Carrie Wright (Chief Marketing & Communications Officer)

Mr. Colin E. Hindman (Chief HR Officer)

Recognition and Awards
The Shyft Group has been recognized for excellence in engineering, supply chain management, product development, and prototyping. We have been the recipient of multiple industry awards for our commitment to quality and innovation.
References

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The Shyft Group
Leadership team

Mr. Daryl M. Adams (Pres, CEO & Director)

Mr. Jonathan C. Douyard (Chief Financial Officer)

Mr. Todd A. Heavin (Chief Operating Officer)

Products/ Services
Automotive, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Novi, Michigan, United States
Established
1975
Company Registration
SEC CIK number: 0000743238
Net Income
20M - 100M
Revenue
500M - 1B
Traded as
NASDAQ:SHYF
Social Media