Did Private Equity Worsen the L.A. Fires?
2025-01-26
The recent devastating Los Angeles wildfires were exacerbated by a shortage of operational fire trucks, over half the LAFD's fleet being out of service. This isn't solely due to budget cuts, but rather the result of a private equity roll-up. American Industrial Partners (AIP) consolidated fire truck manufacturers into REV Group, creating a near-monopoly that jacked up prices and delivery times. This left the LAFD struggling to replace aging vehicles, hindering their ability to fight the fires. The article argues this situation highlights the need for stronger antitrust enforcement to prevent similar crises.