Thor Acquires KZRV

Elkhart, Indiana-based Thor Industries, Inc. announced that it has entered into an agreement to acquire the outstanding capital stock of recreational vehicle manufacturer K-Z, Inc. in a transaction closing effective May 1, 2014.

ThorTrailerThe purchase price, which will be paid in cash, is approximately $53.4 million, subject to adjustment.

“We are pleased to welcome K-Z to the Thor family. With a strong focus on value, service, and quality, K-Z brings an exceptional way of doing business that really stands apart in the RV industry,” said Bob Martin, Thor President and Chief Executive Officer, in a company news release.

“With an iconic and long-standing brand, K-Z has built a successful business over the past 40 years serving a diversified distribution network of more than 200 dealers that are strong business partners. At Thor, we recognize the success of K-Z and want to see that continue as we support the management team in the next phase of their growth.”

Founded in 1972, Shipshewana, Indiana-based K-Z is known for its innovative, high-quality travel trailers, fifth wheels, and toy haulers.

With strong brands such as Sportsmen, Spree, and Durango, K-Z produces a comprehensive selection of travel trailers, fifth wheels, and toy haulers with retail price points as low as $10,000 for entry-level products.

The company produces its RV’s at a complex consisting of 396,000 square feet of office and production space spread among six primary facilities operated by a team of approximately 320 employees.

ThorMotorhomeK-Z generated sales of nearly $150 million for its fiscal year ended December 31, 2013, and Thor expects the acquisition to be accretive to earnings.

“Becoming a part of Thor allows us to continue to operate K-Z with the core values and relationships that have made us successful since our founding,” said Daryl Zook, founder and Chief Executive Officer of K-Z.

“We understand the importance of partnering with a local Company that has strong roots in the RV industry and in our communities of northern Indiana. We share a strong commitment to product quality and excellent customer and dealer relationships that make Thor an ideal partner for K-Z.”

Details

Thor Industries, Inc.

Thor Industries logoThor Industries was founded in 1980 by Wade Thompson and Peter Orthwein with the purchase of Airstream. Thor Industries went public in 1984 and since that time, Thor has grown both organically and through strategic acquisitions.

Today Thor is the sole owner of operating subsidiaries that, combined, represent one of the world’s largest manufacturers of RVs.

Thor Industries companies include Airstream, Breckenridge, Crossroads RV, Dutchmen Manufacturing, Heartland RV, Keystone RV Company, Livin Lite, Redwood RV, and Thor Motorcoach.

Address: 601 East Beardsley Avenue, Elkhart, IN 46514-3305

Phone: (574) 970-7460

Website: www.thorindustries.com

KZRV LP

KZ-logoKZRV Recreational Vehicles was founded in 1972 in a small gas station north of Middlebury, Indiana, by Daryl Zook, on the principles of quality, fairness, courtesy, and integrity.

They started building truck campers and slide in tops and now manufacture a full line of towable recreational vehicles in Shipshewana, Indiana including Durango, Escalade, and StoneRidge fifth wheels; Coyote, Sportsmen, Sportsmen Classic, Spree, Spree Escape, and Spree Connect travel trailers; Inferno, Escalade Sportster, and StoneRidge Sportster fifth wheel toy haulers; and MXT, Rock Climber, Sportsmen Classic, and Sportsmen TH travel trailer toy haulers.

KZ Recreational Vehicles has received the Quality Circle Award from RVDA for its Dealer Satisfaction Index survey for 12 of the last 13 years.

Address: 0985 N 900 W, Shipshewana, IN 46565

Phone: (866) 472-5460 (toll free)

Website: www.kz-rv.com

Worth Pondering…

Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan.

—Tom Landry

This entry was posted in RV Manufactures and tagged , , , , , , . Bookmark the permalink.

Leave a Reply