M&A Deal Summary

THOR Industries Acquires Heartland Recreational Vehicles

On September 17, 2010, THOR Industries acquired automotive company Heartland Recreational Vehicles from L Catterton Partners for 200M USD

Acquisition Highlights
  • This is THOR Industries’ 9th transaction in the Automotive sector.
  • This is THOR Industries’ 3rd largest (disclosed) transaction.
  • This is THOR Industries’ 9th transaction in the United States.
  • This is THOR Industries’ 7th transaction in Indiana.

M&A Deal Summary
Date 2010-09-17
Target Heartland Recreational Vehicles
Sector Automotive
Buyer(s) THOR Industries
Sellers(s) L Catterton Partners
Deal Type Add-on Acquisition
Deal Value 200M USD

Target

Heartland Recreational Vehicles

Elkhart, Indiana, United States
Heartland Recreational Vehicles LLC (Heartland RV) is a manufacturer of towable recreational vehicles in the U.S. The Company markets over 15 brands of superior fifth wheel and travel trailer RVs and has captured the #3 market share in the Fifth Wheel category. Heartland’s towable RVs are sold through an independent network of dealers throughout the United States and Canada.

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Buyer(S) 1

Buyer

THOR Industries

Elkhart, Indiana, United States
Category Company
Founded 1980
Sector Automotive
Employees24,900
Revenue 11.1B USD (2023)
DESCRIPTION
Thor Industries' corporate headquarters in Elkhart, Indiana.
Thor Industries' corporate headquarters in Elkhart, Indiana.

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.

DEAL STATS #
Overall 9 of 17
Sector (Automotive) 9 of 14
Type (Add-on Acquisition) 9 of 16
State (Indiana) 7 of 13
Country (United States) 9 of 16
Year (2010) 2 of 2
Size (of disclosed) 3 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-10 SJC Industries

Elkhart, Indiana, United States

SJC Industries Corp., manufacturers a full line of ambulances distributed under the McCoy-Miller and Marque brands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-06 SJC Industries

Elkhart, Indiana, United States

SJC Industries Corp., manufacturers a full line of ambulances distributed under the McCoy-Miller and Marque brands.

Sell -

Seller(S) 1

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 21 of 101
Sector (Automotive) 1 of 4
Type (Add-on Acquisition) 6 of 45
State (Indiana) 1 of 2
Country (United States) 19 of 75
Year (2010) 4 of 5
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-08 Alasko

Saint-Léonard, Quebec, Canada

Alasko specializes in importing, distributing, and marketing high-quality frozen fruits and vegetables from around the world. The company has the broadest product offering with more than 230 SKUs serving all distribution channels. Alasko was founded in 1989 and is based in Montreal, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-08 One Natural Experience

Los Angeles, California, United States

One Natural Experience, Inc. is a premier all-natural beverage company.

Sell -
Mergr

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