Tuesday, September 18, 2018
THOR INDUSTRIES TO ACQUIRE ERWIN HYMER GROUP WHICH INCLUDES ROADTREK
Thor To Acquire Erwin Hymer Group - Quick Facts
9/18/2018 7:59 AM ET
Thor Industries, Inc. (THO) and the shareholders of Erwin Hymer Group SE announced a definitive agreement for Thor to acquire Erwin Hymer Group for an enterprise value of approximately 2.1 billion euros. Equity consideration will consist of approximately 2.3 million shares of Thor.
Thor expects the transaction to be accretive to earnings in the first year, before taking into account anticipated synergies, purchase accounting adjustments and transaction-related expenses. Subsequent to closing, Thor intends to repurchase shares both opportunistically and systematically in order to offset the issuance of shares to the Hymer family.
Headquartered in Bad Waldsee, Germany, Erwin Hymer Group is one of the premier manufacturers of recreational vehicles in the European market. Martin Brandt will continue to lead the Erwin Hymer Group business post-closing as its CEO.
by RTTNews Staff Writer
Thor expects the transaction to be accretive to earnings in the first year, before taking into account anticipated synergies, purchase accounting adjustments and transaction-related expenses. Subsequent to closing, Thor intends to repurchase shares both opportunistically and systematically in order to offset the issuance of shares to the Hymer family.
Headquartered in Bad Waldsee, Germany, Erwin Hymer Group is one of the premier manufacturers of recreational vehicles in the European market. Martin Brandt will continue to lead the Erwin Hymer Group business post-closing as its CEO.
by RTTNews Staff Writer
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.
RV RELATED RECALLS ON SEPTEMBER 17, 2018 FOR PRIME TIME, KZRV, COACHMAN, WINNEBAGO, RAM TRUCKS, GMC & CHEVROLET TRUCKS
NHTSA Campaign Number: 18V534000
Manufacturer Forest River, Inc.
Components EQUIPMENT
Potential Number of Units Affected 22
Summary
Forest River, Inc. (Forest River) is recalling certain 2019 Prime Time Tracer and Avenger travel trailers equipped with a Greystone oven. These ovens may be missing a diverter which can cause the countertop to get extremely hot.
Remedy
The remedy for this recall is still under development. The recall began September 11, 2018. Owners may contact Prime Time customer service at 1-574-862-1025. Forest River's number for this recall is 48-0833.
NHTSA Campaign Number: 18V540000
Manufacturer KZRV, L.P.
Components EQUIPMENT
Potential Number of Units Affected 1,160
Summary
KZRV, L.P. (KZRV) is recalling certain 2017-2019 KZRV Durango, Venom and Sidewinder recreational trailers. The Federal Certification label incorrectly lists the tire size as being ST235/80R16G, however, the correct tire size is ST235/85R16G.
Remedy
KZRV will notify owners, and dealers will replace the Federal Certification label, free of charge. The recall is expected to begin October 8, 2018. Owners may contact KZRV customer service at 1-800-768-4016 extension 154 or 153. KZRV's number for this recall is KZ-2018-08.
NHTSA Campaign Number: 18V545000
Manufacturer Forest River, Inc.
Components ELECTRICAL SYSTEM
Potential Number of Units Affected 69
Summary
Forest River, Inc. (Forest River) is recalling certain 2019 Coachmen Freedom Express recreational trailers. The break-away safety switch was not wired to a constant power source, and, as a result, the switch may be inadvertently disconnected from the trailer house battery and cause the brakes to not engage if the trailer detaches from the tow vehicle.
Remedy
Forest River has notified owners, and dealers will correct the break-away safety switch wiring, free of charge. The recall began September 11, 2018. Owners may contact Coachmen Freedom Express customer service at 1-574-825-8657. Forest River's number for this recall is 220/320-0825.
NHTSA Campaign Number: 18V546000
Manufacturer Winnebago Industries, Inc
Components ELECTRICAL SYSTEM
Potential Number of Units Affected 6,700
Summary
Winnebago Industries, Inc (Winnebago) is recalling certain 2016-2019 Winnebago Era, Travato, Fuse, View, Trend, Aspect, Paseo, Via, Adventurer, Journey, Tour, and Grand Tour motorhomes. These vehicles have an auxiliary solar charging port circuit that is not fused.
Remedy
Winnebago will notify owners, and dealers will install an inline 15 amp fuse into the auxiliary solar charging port circuit, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Winnebago customer service 1-641-585-6939 or 1-800-537-1885.
NHTSA Campaign Number: 18V556000
Manufacturer Chrysler (FCA US LLC)
Components POWER TRAIN
Potential Number of Units Affected 4,171
Summary
Chrysler (FCA US LLC) is recalling certain 2018-2019 RAM 1500 trucks. The rear differential may have been insufficiently filled, possibly resulting in its failure.
Remedy
Chrysler will notify owners, and dealers will inspect the rear axle oil level. Rear axles with an insufficient amount of oil will be replaced, free of charge. The recall is expected to begin October 12, 2018. Owners may contact Chrysler customer service at 1-800-853-1403. Chrysler's number for this recall is U88.
NHTSA Campaign Number: 18V578000
Manufacturer General Motors LLC
Components SERVICE BRAKES, HYDRAULIC
Potential Number of Units Affected 41,468
Summary
General Motors LLC (GM) is recalling certain 2015-2016 Chevrolet Silverado 2500, 3500, 1500 Crew Cab Special Service, Tahoe Police Pursuit/Special Service, GMC Sierra 2500, and 3500 vehicles. The brake pedal pivot nut may loosen, causing the brake pedal to be loose or inoperative.
Remedy
GM will notify owners, and dealers will add adhesive to the nut and reinstall the nut with increased tightness, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chevrolet customer service at 1-800-222-1020, or GMC customer service at 1-800-462-8782. GM's number for this recall is 18278. Note: The vehicles in this recall need this additional remedy despite being covered by recall 16V069 for brake pedal loosening.
NHTSA Campaign Number: 18V586000
Manufacturer General Motors LLC
Components STEERING
Potential Number of Units Affected 1,015,918
Summary
General Motors LLC (GM) is recalling certain 2015 Chevrolet Silverado 1500, Tahoe and Suburban, GMC Sierra 1500 and Yukon, and Cadillac Escalade vehicles. Electric power steering (EPS) assist may be lost momentarily, followed by a sudden return of EPS assist.
Remedy
GM will notify owners, and dealers will update the EPS module software, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Cadillac customer service at 1-800-458-8006, Chevrolet customer service at 1-800-222-1020 and GMC customer service at 1-800-462-8782. GM's number for this recall is 18289.
