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Humvee maker AM General reportedly for sale, with interest from FCA, GM

WASHINGTON — AM General has put itself up for sale and has hired investment bank Macquarie Group Ltd to seek potential bidders in a deal that could value the builder of Humvee military vehicles at more than $2 billion, people familiar with the matter said this week. Potential bidders include competitors in the military ground vehicle market, such as General Dynamics, Oshkosh Corp and BAE Systems, according to two people familiar with the matter. Automakers like Fiat Chrysler and General Motors may also be potential buyers. GM licensed Hummer from AM General in 1998 to build civilian SUVs. None of the companies would comment or reply to a request for comment. The South Bend, Indiana-based AM General is currently owned by private equity firms. A possible sale of AM General follows a rash of deals over the past 18 months among defense contractors. But relatively fewer makers of defense equipment have gone on the auction block. Last year, United Technologies acquired Rockwell Collins for $30 billion, and in March, TransDigm Group continued its acquisition spree with a $525 million deal for Extant Components Group. AM General could fetch about 10 times its annual earnings of $160 million, one of the people said. The company's favorable tax treatment because of its current status as an limited liability corporation, would allow a buyer to reduce the company's taxable earnings for 15 years. That coupled with recent contract awards could push the ultimate value of the company to over $2 billion in a sale. The sale, should it happen, comes as the U.S. Army is gearing up for a broad effort to modernize its forces, including seeking prototypes of its Next-Generation Combat Vehicle in fiscal year 2022. Last month, AM General was awarded an Army contract for as many as 2,800 new M997A3 High Mobility Multipurpose Wheeled Vehicle (HMMWV) ambulances. The contract could be worth as much as $800 million if all options were exercised, AM General said at the time. Last year, the Pentagon awarded AM General a $550 million contract to deliver HMMWVs for use as protected weapons carriers, cargo transporters and ambulances to Afghanistan, Iraq, Ukraine, Jordan, Slovenia, Bahrain, Columbia, Bosnia and Kenya as a part of a larger Foreign Military Sales agreement. The sale of AM General offers an opportunity to purchase a prime contractor that delivers a finished product to the Pentagon, and not just an add-on system or service.

GMC's electric Hummer could someday serve alongside the Humvee in the U.S. Army

Every civilian Hummer model traces its roots to AM General's Humvee, which made its combat debut when the United States invaded Panama in 1989. Fast forward to the 2020s, and the tables have turned. The born-again Hummer that will arrive with an electric powertrain and a GMC emblem could spawn a military-spec truck. "[The upcoming Hummer] is a full-size truck with 400 miles of range and 1,000 pound-feet of torque, it's a very highly capable vehicle. That could provide a great base platform for an electric vehicle to be used in the military context," said David Albritton, the president of General Motors Defense, in an interview with GM Authority. Although he didn't sketch out the Hummer's role in a battalion, its range, torque, and dimensions would theoretically make it well-suited to carrying soldiers, weapons, and/or gear like radio equipment. It wouldn't necessarily look like the production model (shown above in a preview image). General Motors Defense might use its basic platform and its powertrain technology to build a purpose-designed off-roader, like it did with the Colorado Infantry Squad Vehicle (ISV) it will soon begin manufacturing for the Army. The ISV shares 90% of its parts with the regular-production Chevrolet Colorado, but the two vehicles look nothing alike. Securing a contract with the American military is easier said than done, and Army officials haven't publicly expressed an interest in sending the upcoming Hummer into a war zone. We'll learn more about what a battle-ready electric truck could look like after the showroom-bound model makes its debut. In the meantime, Humvee production continues, and AM General introduced a comprehensively updated model named NXT 360 in 2018. Related Video:     Green GMC Hummer Truck Electric Military

AM General to offer civilian Humvee kit car

For anyone feeling nostalgic about the passing of the Hummer brand, or the actual wartime vehicle that inspired it, now is your chance to own a version of the original HMMWV, albeit without an engine.
After a 12-year hiatus from the civilian vehicle market, AM General is reportedly set to offer a kit-car of the C-Series Humvee. The kit will conform to U.S. government regulations and has been made possible by a deal with General Motors.
The kit costs $59,000 - and you still need an engine. A likely favorite would be a Duramax Diesel V8 and Allison transmission combination, as was found on the H1 Alpha. AM General estimates that an owner could buy the kit Humvee and outfit a powerplant and transmission for $75,000. Not bad, considering that H1 Alpha has an MSRP of $140,000 in 2005.