Winnebago completes Newmar acquisition
FOREST CITY, Iowa — Winnebago Industries Inc., a leading outdoor lifestyle product manufacturer, announced that it has completed the previously announced acquisition of Newmar Corporation, a Nappanee-based manufacturer of Class A and Super C motorized recreation vehicles. Consideration paid included $270 million in cash plus 2 million shares of Winnebago Industries common stock.
“The acquisition of Newmar further strengthens our core RV Platform and enhances the scale and profitability of our overall motorhome business,” said Winnebago Industries President and Chief Executive Officer Michael Happe. “We are excited to welcome Newmar into our premium portfolio and look forward to working with their dedicated and talented team and high-quality dealer network to drive new growth opportunities and significant value creation for our employees, customers, and shareholders.”
Goldman Sachs & Co. LLC acted as financial adviser to Winnebago Industries and Faegre Baker Daniels LLP served as legal adviser.
RV Tech Institute joins veterans program
ELKHART — The RV Technical Institute recently became listed on Indiana’s Veteran Opportunity Partner program, according to a report from the RV Industry Association.
Implemented in September 2013, the program is designed to create working relationships with businesses, institutions, health care providers and other entities in Indiana that offer benefits including discounts, services and educational opportunities to veterans and their families.
“As a veteran myself, I know the challenges they face when trying to re-enter the workforce,” RV Technical Institute Executive Director Curt Hemmeler said. “The RV industry presents an amazing opportunity to get trained in a growing industry that can lead to immediate employment. The partnership with the state of Indiana is a great way that the RV Technical Institute can provide a career path and give back to those who have bravely served our country.”
The RV Technical Institute launched this year with the mission to improve the RV customer experience by reducing repair event cycle times through standardizing the industry’s training curriculum and increasing the number of trained RV technicians across the country.
For its participation in the VOP program, the RV Technical Institute is included in the Indiana Department of Veterans Affairs “Veterans Jobs” listing that redirects visitors to the RV Technical Institute website where they can gather more information about RV service training opportunities.