The investment firm KPS Capital Partners on Wednesday said it has agreed to acquire specialty vehicle developer and manufacturer AM General LLC from the holding company MacAndrews & Forbes.

Terms of the deal were not disclosed. AM General, maybe best known for providing the U.S. military with the multipurpose Humvee utility vehicles, is based in South Bend, Ind., and has 1,500 employees.

KPS said it plans to help grow AM General through acquisitions and organically.

“We are excited to acquire AM General, a legendary American company and world leader in the design, engineering, manufacturing and support of light tactical and specialty vehicles,” Jay Bernstein, a partner of KPS, said in a statement. “We look forward to working with Chief Executive Officer Andy Hove, the company’s management team, and all of AM General’s employees to build on this great platform, organically and through acquisition.”

Bernstein added that “KPS’ demonstrated track record and history of successfully investing in specialty vehicle businesses, as well as its global platform and significant financial resources, make us exceedingly confident that AM General will continue to thrive under KPS’ ownership for the benefit of its customers and all stakeholders.”

The deal is expected to close in the second half of 2020 subject to regulatory approvals.

AM General sells its vehicles worldwide.