Deal Details

Airxcel's RV Group Is Acquired by THOR Industries

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Summary

About

Airxcel began in 1991 as a management buyout of the Coleman RV Air Conditioner division. The Company has continued to grow through innovative product development, market expansion and strategic acquisitions. Airxcel’s RV Group provides industry-leading products in recreational vehicle heating, cooling, ventilation, cooking, windows, window covering, side wall and roofing materials under the current brands: Aqua-Hot, CAN, Cleer Vision, Coleman-Mach, Dicor Products, United Shade, Vixen Composites, Maxxair, MCD and Suburban. With this transaction, Airxcel’s specialty HVAC Group (“AirX Climate Solutions”) will become a standalone, pure-play HVAC player, providing highly engineered cooling and ventilation solutions for telecommunications, energy development and storage and education / multi-tenant housing industries under the brands: Marvair, Eubank, Industrial Climate Engineering (ICE), Suburban Applied Products and CAPS. AirX Climate Solutions will be retained by L Catterton who intends to continue to build the platform. Airxcel's 2,000-plus employees are based in eight facilities across the U.S. and Europe, where they design, manufacture and distribute products all over the world. The Company is headquartered in Wichita, Kansas.

With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton's team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. L Catterton is headquartered in Greenwich, Connecticut.

THOR is the sole owner of operating subsidiaries that, combined, represent the world's largest manufacturer of recreational vehicles. THOR is headquartered in Elkhart, Indiana.

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