RVBusiness, January-February 2017

TOPof theNews In Brief from page 10 each of their respective markets ADCO will continue to service its customer base under the ADCO and PCI brand names and will operate as a division of Covercraft Industries which provides vehicle protection products for the automotive market Marathon to Up Production in 2017 as Sales Rise Due to recent record sales in both new and pre owned Marathon Coach bus conversions president and owner Steve Schoellhorn announced a plan to increase production for the fifth consecutive year Marathon a privately held company delivered approximately 60 new and pre owned coaches between its Oregon Florida and Texas locations in 2016 With production of more than 20 new coaches the luxury bus converter plans on hiring between 50 and 60 people in 2017 due to increased production retirements and normal attrition KOA Rated Among Top Franchises in N America Kampgrounds of America Inc KOA was recently named a top franchise by Franchise Business Review in its 2017 Todays Top Franchises report KOA is North Americas premier family camping system with more than 490 locations in the U S and Canada and has been named a top franchise by Franchise Business Review each year for the past nine years Based in Billings Mont KOA was among 334 franchise brands representing more than 30000 franchise owners that participated in Franchise Business Reviews research conducted between May 2015 and November 2016 Priority One Will Mark 30th with Yearlong Contest Priority One Financial Services Inc a division of Forest River Inc will commemorate its 30th anniversary in business by honoring its dealer partners with a yearlong contest According to the company the dealer that sends the 30th funded deal every month will receive a prize including a gas grill Foosball table and a full size jukebox Homegrown Trailers Moves Operations Washington based Travel Homegrown Trailers has just completed a major move of its operations from Woodinville to Kirkland Company representatives said that the move was designed to increase production levels gain a customer friendly showroom and expand public visibility The builder began operations in its original location in February 2016 RVB REV Group Acquires Renegade RV Eyes 2314M Valuation From Anticipated IPO Milwaukee based specialty vehicle maker REV Group Inc which includes subsidiary REV RV Group in Decatur Ind that manufactures Class A and Class C motorhomes under the American Coach Monaco Holiday Rambler and Fleetwood RV brand names hopes to raise 2314 million in its initial public offering and use the money to pay down long term debt In addition REV Group announced on Dec 30 2016 the acquisition of Renegade RV a leading manufacturer of recreational vehicles heavy duty trailers and specialty vehicles On that same day REV Group reported more than 30 million profit and nearly 2 billion in revenue for the end of its 2016 fiscal year The IPO was initially valued at 100 million when it was first made public in late December but that figure jumped to 2314 million according to a Jan 18 report by Milwaukee BizTimes The company plans to offer 125 million shares of common stock in the offering and is expecting it to be priced between 19 and 21 per share The midpoint of that range would give the company 2314 million in proceeds after expenses and underwriting discounts REV Group plans to use approximately 1921 million to pay off its outstanding senior secured notes which 12 RVBusiness J A N U A R Y F E B R U A R Y 2 0 1 7 have a fixed interest rate of 85 and mature on Nov 1 2019 The company will also use up to 393 million to pay on its asset based loans The company will list on the New York Stock Exchange under the ticker symbol REVG The offering was expected to be priced and begin trading in late January although an exact date had not been set As for the Renegade RV acquisition according to a company release Renegades manufacturing operations which includes a 200000 square foot production facility will remain in Bristol Ind and its 175 employees will continue to be Renegade RV builds Super C and Class C coaches like the Vienna integral to day to day operations and future growth plans Likewise Renegade RV has built an extensive independent dealer network that will continue to promote and sell Renegade RV products nationwide RVB ALLY and RVB Recognize Charitable Windish RV In what has become an annual tradition Ally Financial Inc and RVBusiness recently presented the 2016 Arthur J Decio Humanitarian Award for exceptional charitable outreach to Windish RV Center of suburban Denver Carolyn Windish Irwin owner and president of the two store Lakewood dealership which ranks as Colorados top towable retailer for seven years running received the award for her selfless charitable contributions to the community The Decio Award sponsored by Ally is named for legendary Skyline Corp founder Art Decio who has played a prominent philanthropic role for On hand for the luncheon and check presentation were L R Goldenberg Jim Humble GM of Windish RV Irwin Tim Taravella from Sense of Security Sanai Fennell and Glenna Norvelle from Youth at Risk and Allys Linkfield years around the RV building center of Elkhart Ind The award is presented annually to one of RVBs Top 50 Dealer Award winners Allys Tammy Linkfield director of recreational finance Western USA and Sherman Goldenberg publisher of RVBusiness presented Irwin with the award as well as a grant of 5000 to Windish RV to further support two of the dealerships preferred charities Colorado Youth at Risk providing mentors and tutors for at risk kids and Sense of Security supporting women with breast cancer RVB