From what I've read over the years about Newmar RVs, they are one of the best manufacturers of top-of-the-line Class A motorhomes. Newmar owners have posted many words of praise over their quality workmanship.
Now, it has been reported that Newmar Corporation is to be acquired by Winnebago Industries. Based on what I've read about Newmar, the acquisition looks to be that this will be a good fit.
Yahoo! Finance reported:
EDEN PRAIRIE, Minn., Sept. 16, 2019 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (WGO), a leading outdoor lifestyle product manufacturer, today announced that it has entered into a definitive agreement to acquire Newmar Corporation (“Newmar”), a leading manufacturer of Class A and Super C motorized recreation vehicles ("RV"s) for total consideration valued at approximately $344 million, based on the closing price of Winnebago Industries stock on September 13, 2019. The consideration consists of $270 million in cash and a fixed amount of 2 million shares of Winnebago Industries stock, and represents a multiple of 5.2x Newmar’s last twelve months ("LTM") June 2019 Adjusted Earnings before Interest, Taxes, Depreciation, Amortization, and certain non-recurring expenses ("Adjusted EBITDA"), adjusted for the value of the tax assets and anticipated run-rate net synergies of $5 million.
For over 50 years, Newmar has been a leader in the RV industry with a reputation for quality, innovation, and service that has enabled them to become the industry’s fastest growing brand of Class A motorhomes. The privately-owned company manufactures premium Class A luxury, diesel and gas, and Super C motorhomes and generated revenue of $661 million and an Adjusted EBITDA of $55.2 million as of LTM June 2019.
To read more, go here.
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