K-Z, Inc. has been sold to Thor Industries
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that K-Z, Inc. (“K-Z” or “The Company”) has been sold to Thor Industries, Inc. The purchase price, which was paid in cash, was approximately $53.4 million, subject to adjustment.
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 RVs 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. K-Z generated sales of nearly $150 million for its fiscal year ended December 31, 2013. Additional information is available at www.kz-rv.com.
Lincoln acted as the exclusive financial advisor to K-Z, working closely with the Company’s senior management team and primary shareholders throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
“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. “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.”
Daryl Zook, Founder and Chief Executive Officer of K-Z, added, “Lincoln’s guidance and expertise drove a competitive sale process that resulted in an exceptional outcome. 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.”
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