Industrial Opportunity Partners LLC, a Chicago-based private equity firm, is going to make a multi-million dollar investment in Roadtrek Motorhomes Inc. within the next couple of weeks, Roadtrek announced today (Feb. 22).
Roadtrek, based in Kitchener, Ontario, is the No.1 Class B motorhome maker.
IOP’s investment insures that the company has the capital to make increased ongoing investments in product improvements, new products, new markets (like China and possibly Europe) and new processes, and continues to offer limited supplemental wholesale floorplan to U.S. dealers, something Roadtrek’s competitors cannot afford to do, Roadtrek stated in a news release.
The existing Roadtrek management team, led by Jeff Hanemaayer as co-chairman and Jim Hammill as president will continue to manage the company. Upon completion of the IOP investment, Andy Weller, one of IOP’s Operating Principals with significant experience in manufacturing and transportation companies, will provide additional leadership as the other co-chairman.
“We are extremely enthusiastic about working with IOP to continue to provide our customers with an unrivalled combination of product design, quality, price and service,” said Hanemaayer.
IOP is focused on investing in middle market manufacturing businesses with strong products, customers and markets. IOP provides both financial resources and management assistance to support its investments in better serving their customers and, in turn, growing sales and earnings at such companies. Despite the recent unfavorable economic environment, they have not had a single failure among their portfolio of companies.
IOP’s current investment portfolio includes Algoma Hardwoods Inc., FAS Controls Inc., Center Manufacturing Inc., Gulf Coast Machine & Supply Co., E.B. Bradley Co., Carlson Systems Holdings Inc. and Edelbrock LLC.
IOP was the “staking horse” in an attempt to buy cargo trailer maker Pace American Inc. in 2010. Sun Capital Partners Inc., a private equity capital firm based in Boca Raton, Fla., ultimately bought the cargo trailer maker.
For more information on IOP, visit www.iopfund.com.