Monday, September 17, 2018
THOR INDUSTRIES IS THE LEADING BIDDER FOR GERMAN RV MANUFACTURER ERWIN HYMER, THE OWNER OF ROADTREK
Thor Emerges as Leading ‘Erwin Hymer’ Bidde
September 15, 2018 by RVBusiness
Thor Industries Inc. has emerged as the leading bidder for German family-owned peer Erwin Hymer Group in a deal valuing the company at more than $2.34 billion, people close to the matter said.
Reuters reported that talks with Thor are advancing, but not yet exclusive, the people said. They added that the negotiations could still fall apart and Hymer’s owners could instead opt for an initial public offering.
The offer of Thor – which would be able to reap synergies through a combination of its own business with Hymer – exceeded that of runner-up Centerbridge, a private equity group, one of the people said, adding that a decision is expected this month.
Hymer, Thor and Centerbridge all declined to comment.
Hymer’s owners, which initially put a stake in the company on the block seeking funds for Hymer to invest in North America and Asia, originally only planned to divest a minority, but have opened up to the idea of selling control.
