Industry: Farm & Heavy Construction Machinery

Sector: Industrials

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.

Shyft Group Inc is evaluated using Mavefund's quality framework: growing earnings, durable profit margins, conservative leverage, strong return on equity, and disciplined share repurchases.