THOR Industries - M&A Summary and Business Overview

AutomotiveCompany

THOR Industries M&A Summary

THOR Industries has acquired 17 companies, including 3 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 3 assets.

THOR Industries’ largest acquisition to date was in 2021, when it acquired Airxcel for $750M. It’s largest disclosed sale occurred in 2013, when it sold Thor - Bus Business to REV Group for $100M. THOR Industries has acquired in 4 different US states, and 2 countries. The Company’s most targeted sectors include automotive (83%) and manufacturing (6%).

THOR Industries Business Overview

Where is THOR Industries headquartered?

THOR Industries is headquartered in Elkhart, Indiana.

What is THOR Industries’ revenue?

THOR Industries disclosed revenue of 16,313M USD for 2022 and 12,317M USD for 2021.

How many employees does THOR Industries have?

THOR Industries has 22,250 employees.

What sector is THOR Industries in?

THOR Industries is an automotive company.

When was THOR Industries founded?

THOR Industries was founded in 1980.

M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity17
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 5

THOR Industries

THOR Industries, Inc.

601 East Beardsley Avenue,
Elkhart, Indiana 46514
United States,
(574) 970-7460
www.thorindustries.com

THOR Industries manufactures a wide range of recreational vehicles (RVs) in the United States and sells those vehicles primarily in the United States and Canada. THOR Industries was founded in 1980 and is based in Elkhart, Indiana.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 15 - 2 - - - 17
vol $1.2B $750M $1.9B
Sell (0.2/yr) # 2 - - - 1 - 3
vol $100M $100M
  20

Most Recent M&A

Company Date Value Type
Bison Coach LLC 2023-10-19 - Recapitalization
Milford, Indiana · www.bisontrailer.com
Elkhart Composites, Inc. 2021-12-07 - Add-on Acquisition
Elkhart, Indiana
Airxcel, Inc. 2021-09-01 750M USD Add-on Acquisition
Wichita, Kansas · www.airxcel.com
Erwin Hymer Group 2019-01-21 - Add-on Acquisition
Bad Waldsee, Germany · www.erwinhymergroup.com
Jayco Corp. 2016-07-01 576M USD Add-on Acquisition
Middlebury, Indiana · www.jayco.com
Postle Aluminum Co. LLC 2015-05-01 144M USD Add-on Acquisition
Elkhart, Indiana · www.postledistributors.com
K-Z, Inc. 2014-04-17 53M USD Add-on Acquisition
Shipshewana, Indiana · www.kz-rv.com
Bison Coach LLC 2013-10-31 17M USD Divestiture
Milford, Indiana · www.bisontrailer.com
Livin' Lite Recreational Vehicles LLC 2013-08-27 - Add-on Acquisition
Wakarusa, Indiana · www.livinlite.com
Thor - Bus Business 2013-07-31 100M USD Divestiture
, United States
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Automotive 14 (82%) 1.0B (54%) 3 (100%) 100M (100%)
Chemicals 1 (6%) - - -
Manufacturing 1 (6%) 750M (39%) - -
Metals/Mining 1 (6%) 144M (7%) - -
Total 17 $1.9B 3 $100M

By Geo

State/Country Buy Value Sell Value
United States 16 1.9B 3 100M
  Indiana 13 1.2B 2 -
  Oregon 1 - - -
  Michigan 1 - - -
  Kansas 1 750M - -
Germany 1 - - -
Domestic 16 (94%) 1.9B (100%) 3 (100%) 100M (100%)
Cross-border 1 (6%) - - -
Total 17 $1.9B 3 $100M

Deal Values

buy # Total
$100M to $1B 5 $1.8B
< $100M 3 $116M
TOTAL $1.9B
Largest Airxcel, Inc.
$750M (2021-09-01)
sell # Total
< $100M 1 $100M
TOTAL $100M
Largest Thor - Bus Business
$100M (2013-07-31)

M&A Connections

Deals
Acquired from
Investor(s)
18%
3 (18%)
Strategic(s)
6%
1 (6%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
67%
2 (67%)

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