PRESS RELEASE: Johnsons Successfully Brokers the sale of Northern RV Group to Fleetwood Corporation

 

November 2018

 

 

Northern RV Group acquired by Fleetwood Corporation

Johnsons is pleased to announce the successful sale of a private, mid-sized Australian business to an
ASX-listed, public company buyer in the recreational vehicles (‘RV’) sector.

After facilitating a comprehensive, end-to-end sales and negotiations process, our client – Northern RV (‘NRV’) – has been acquired by Fleetwood Corporation Limited in Western Australia. Melbourne-based NRV specialises in supplying products and services to the fast-growing RV sector, with a turnover of approximately $16M and employing +70 staff. Fleetwood Corporation Limited (ASX:FWD) is a provider of accommodation solutions and recreational vehicles, parts and accessories. Fleetwood has 8 manu-facturing sites across Australia and over 250,000m2 of manufacturing capacity.

The team at Johnsons were pleased to act as lead advisors to NRV and would like to extend our congratulations to both the Vendor and Purchaser.

Having established & grown the Business over 12 years, NRV’s Managing Director engaged Johnsons to assist with identifying a strategic acquirer to take the Business through its next growth phase. Following  a comprehensive research and marketing campaign – targeting both trade and financial buyers – Johnsons generated more than 24 expressions of interest.