Kitchener, Ontario-based Class B builder Roadtrek Motorhomes Inc. reported strong fourth quarter and year-end results, according to a press release.
“We are pleased with the strength of our revenue growth and profitability as we finished the year with strong operating performance,”said President Jim Hammill. “Roadtrek’s position in the improving RV market is the best it has been in five years. Our improved financial condition and flexibility has allowed us to focus engineering resources on product development, broaden our supply chain and sign new dealers in strategic locations.”
Hammill said that Roadtrek’s dealers also experienced a good year “with average sales per dealer up and significant gross profit improvements.”
Andy Weller, an operating principal at Industrial Opportunity Partners (IOP), Roadtrek’s majority shareholder, noted, “I am very happy with the accomplishments that were made in 2012 in product introductions, product improvements and quality. We focused on the customer and the changing marketplace and are very bullish on our brand’s position in the market as we look forward to 2013.”
Roadtrek recently introduced the new E-trek Class B on a Sprinter chassis, an environmentally responsible motorhome with solar, engine co-generation, fuel cell, and lithium battery options.
“The E-trek leads the way in the RV and van marketplace, focusing on addressing the environmental issues people have with motorhomes,” said Hammill. “Class B motorhomes are the most environmentally responsible motorhomes already and the E-trek takes it to the next level. With IOP’s confidence and support we will continue to lead the marketplace in engineering and manufacturing the best products in our market.”
Roadtrek Motorhomes Inc.’s N-6 Active Class B coach recently appeared on the NBC show “Take It All,” starring Howie Mandel as host, according to a press release.
The airing ran on Dec. 13 and can be viewed by accessing http://www.nbc.com/take-it-all/video/night-4 then scroll downto Full Episodes—EP4: “Night 4”.
“Take It All” is a high-stakes game show based on one of the most popular holiday party games in America, often called “White Elephant” or “Yankee Swap.”
Jim Hammill, president of the Kitchener, Ontario-based company, noted, “Roadtrek was honored to have the new N-6 Active family vehicle featured as a prize on NBC’s series premier of “Take It All.”
The N-6 Active features seating for six with four swivel captains’ seats in the front and middle rows, sleeping accommodations for five (including folding rear sofa bed and an upper bunk), huge storage areas, refrigerator, sink and running hot and cold water. Other amenities include swing-down television, GPS/DVD/ Bluetooth/ satellite radio, rear heat and air conditioning, a five-gallon spring water tank, microwave, LED lighting, 110-volt outlets and USB ports for all seats.
For more information visit www.roadtrek.com.
Roadtrek Motorhomes Inc. has introduced the new RS E-Trek Class B motorhome, built on the Mercedes Sprinter chassis and incorporating the latest technology into Roadtrek’s best-selling RS platform.
“Roadtrek’s design incorporates technology that will give the owner greater ability to be independent, have full capability to dry camp for extended periods, all while being environmentally conscious,” said Jim Hammill, president of Kitchener, Ontario-based Roadtrek. “There has never been an RV like this, and we are extremely pleased to offer this new product. The introduction of this model is industry leading, environmentally responsible, all electric, all with no loss of functionality.”
The E-Trek was built using the most environmentally conscious materials that are e-certified, and are manufactured using high levels of recycled materials. Features include:
• Mercedes Sprinter Van (170-inch wheelbase), with Bluetec technology, and bio-diesel fuel capability.
• Propane-free operation.
• New Interior styling, including touring captains seats in second row.
• New exterior styling, full-body paint and tone-on-tone colors.
• 250-watt solar charging.
• EFOY fuel cell generator option.
• Engine generation using additional engine generator/alternator.
• 2500-watt Inverter.
• Surge protection and power monitoring.
• Optional lithium Ion batteries.
Andy Weller, Roadtrek’s co-chairman and CEO stated, “This unit utilizes the latest electrical capabilities available to achieve the environmental improvements and camping independence that our customers have been demanding. Our Engineering team has worked extremely hard to create something not just new, but actually a much different and easier product to use for the consumer.”
Roadtrek has begun manufacturing of the E-Trek and is taking orders through its dealer network.
Roadtrek Motorhomes Inc. has introduced its lowest priced, fully-equipped midsize Class B motorhome, designed to be environmentally sensible by eliminating the use of propane.
According to a press release, the new Ranger RT camper van’s lower weight and smaller engine allow for a lighter chassis, all of which lead to better fuel efficiency. Weight is further reduced through carrying of a portable 110-volt generator that can be used only when needed.
Energy sources are simplified to just electricity and gasoline. By excluding propane, Roadtrek said the van’s systems are greatly simplified for easier operation and less maintenance, and burning of fossil fuels is reduced to help the environment.
When not connected to an external power source, RVers can run the 110/12-volt refrigerator, 110-volt stove, 110-volt microwave oven and 110-volt water heater with the dual large capacity auxiliary batteries through an improved electrical system with a 1250-watt power inverter. The power-efficient, compressor-driven Norcold refrigerator provides cooling without propane. The unit is also thermostatically controlled to eliminate frozen produce when the temperature drops at night.
A propane option including tank, stove and furnace is available for those who require ample space heating or extensive stove use while dry camping. A built-in generator is available for those who want one but prefer not to carry a portable one. Respect for the environment is further exhibited by use of water-based exterior paint and reduced use of wood resources.
The Ranger RT, with MSRP’s starting at $72,800, is currently in production.
For additional information, visit www.roadtrek.com/PR or call 888-ROADTREK (762-3873) or email@example.com.
Kitchener, Ontario, Canada-based Class B builder Roadtrek Motorhomes Inc. has introduced the N6-Active, a new category of “activity vehicle,” according to a press release.
The N6-Active, which debuted at last week’s National RV Trade Show in Louisville, Ky., offers several different applications: an SUV that gets up to 18 mpg and is equipped with a refrigerator, sink, microwave and exterior shower; a minivan that can tow 9,000 pounds; a people hauler that consumers won’t be embarrassed to drive; and an RV people can drive every day.
“It’s a great alternative to a large SUV, crossover, or minivan for an active family,” said Jeff Hanemaayer, co-chairman of Roadtrek.
The N6 is built on the new Nissan NV 2500 series van. At 20 feet, 1 inch long, it’s based on the same platform as Nissan’s Titan full-size pickup truck. With more legroom, elbow room and headroom than an SUV or minivan, Roadtrek said it has more than enough space for seven people including an easily to accessible third row that is big enough for two adults or three children.
In addition, four captain seats swivel to surround an expandable table that can be set up in two different locations. There’s also a built-in kitchenette for on-the-road meals and a pop-up roof allows full standing height inside and sleeping for two adults or kids. The third row seat reclines to a full-length double bed and families can sleep a fifth person across the two front seats on the optional folding mattress.
The N6 is well equipped with the latest audio, video, navigation and phone electronics and support for today’s tablets. And because the N6 meets the definition of an RV, Roadtrek said the interest incurred to finance its purchase can be tax deductible as a second residence.
Roadtrek reported that the N6 was well-received by dealers in Louisville. “We sold 14 the first day of the show,” said Hanemaayer.
Base MSRP is $67,470. The N6 is now in production and will be seen on the first dealers’ lots this month. For additional information, visit www.roadtrek.com/PR or call 888-ROADTREK (762-3873) or firstname.lastname@example.org.
Kitchener, Ontario, Canada-based Roadtrek Motorhomes Inc. announced that it will be displaying product as part of Elkhart County’s 4th Annual RV Open House Week, running Sept. 19-23.
According to a press release, the manufacturer will be showing its line of Sprinter- and GM-based Class B motorhomes at a site on C.R. 6, 1 ½ miles east of Cassopolis Street in Elkhart.
Roadtrek reported that the company continues to dominate the Class B segment with 50% market share through July, according to data from Statistical Surveys Inc.
For more information on Roadtrek’s open house, contact Paul Cassidy, vice president of sales, at email@example.com, visit www.roadtrek.com/PR or call 888-ROADTREK (762-3873).
Industrial Opportunity Partners (IOP), an operations-focused private equity firm based in Evanston, Ill., today (April 26) announced its investment in Roadtrek Motorhomes Inc. The transaction was a recapitalization of the privately owned business in partnership with Roadtrek’s owner and senior management team, according to a news release.
Headquartered in Kitchener, Ontario, Canada, Roadtrek is North America’s leading designer and manufacturer of Class B motorhomes with more than 50% of the U.S. market. Roadtrek’s recreational vehicles are sold through a network of independent dealers in the United States, Canada and Japan.
IOP is partnering in its investment with the current sole shareholder, Jeff Hanemaayer, who will remain as co-chairman, as well as with other members of the company’s senior management team, all of whom will remain active in continuing to manage and grow the business.
In addition, Andy Weller, an IOP operating principal, will become a co-chairman, with Jim Hammill continuing to serve as president and a member of the Roadtrek board of directors. Weller, who has significant experience providing oversight and leadership to companies similar to Roadtrek, is a member of IOP’s Board of Operating Principals, which is comprised of seasoned executives who provide leadership to businesses in which IOP invests. To learn more about Weller’s business background click here.
Kenneth M. Tallering, senior managing director of IOP, said, “We look forward to partnering with Jeff, Jim and the rest of Roadtrek’s talented management team. Roadtrek is an established leader in the attractive Class B RV niche market and has built an excellent reputation for providing a well-designed and high-quality product.”
Added Weller, “Roadtrek’s focus on product design and quality has allowed it to maintain its leading market position for nearly two decades. I look forward to working closely with the Roadtrek team to continue to grow Roadtrek’s business and further enhance its reputation with its dealers and consumers.”
Hanemaayer said, “I, along with the Roadtrek team, are excited to partner with IOP. IOP brings both capital and substantial operational experience, which together will help our company continue to provide our customers with an unrivalled combination of product design, quality, efficient manufacturing and service.”
KPMG Corporate Finance Inc. represented Roadtrek and Hanemaayer in this transaction. TD Asset Finance and Export Development Canada provided financing for the acquisition.
About Roadtrek Motorhomes Inc.
Roadtrek is the leading manufacturer of Class B motorhomes, selling its motorhomes through a network of independent RV dealers in the United States, Canada and Japan. Roadtrek’s reputation as the market leader within the Class B motorhome niche has been established through a focus on delivering the highest value vehicles, providing innovative product designs, and manufacturing vehicles of the highest quality available. The company’s commitment to quality is evidenced by becoming the first motorhome manufacturer in North America to obtain registration to the rigorous international standard ISO9001:2000(E). For more information, visit Roadtrek’s website at www.roadtrek.com.
About Industrial Opportunity Partners
IOP is a private equity firm dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $30 million and $350 million.
IOP focuses on businesses with strong product, customer and market positions, and provides management and operational resources to support growth in sales and earnings at its businesses. For more information, visit IOP’s website at www.iopfund.com.
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.
TV viewers watching ”RV 2011” on HGTV New Year’s day generally got glowing cable TV reviews of 20 motorhomes and towable RVs displayed last September at the Pennsylvania RV & Camping Show in Hershey, Pa.
Host Chi-Lan Lieu guided two families with children and a third couple through the maze of RVs at the Hershey Show on the grounds of Hersheypark.
Each family had different goals — the Herbst family was looking to upgrade while the Styles family sought their first RV, a high-end motorhome or towable and Lindsay and Chad Drvak were looking to accommodate rescued dogs.
Lieu, in turn, showed different RVs that she thought would meet their goals. Although none committed to buying an RV during the program, each chose one that they thought best suited their needs.
Among the units highlighted were Fleetwood RV Inc.’s high-end American Revolution and Tiffin Motor Home Inc.’s diminutive Allegro diesel pushers, Winnebago Industries Inc.’s Access minimotorhome, Prime Time Manufacturing’s Crusader fifth-wheel and Roadtrek Motorhomes Inc.’s SS Ideal van camper.
The Herbsts chose a Dynamax Dynaquest XV Class C motorhome; the Styles, a Dutchmen Voltage high-end sport utility fifth-wheel (SURV); and the Drvaks, an Earthbound travel trailer.
The hour-long program marks the 13th year that HGTV has highlighted new RV products, and will be rebroadcast at unspecified times during the year.
Producers of the program worked with the Recreation Vehicle Industry Association (RVIA) and its agency, Barton Gilanelli, to put the program together.
Retail sales of Class B motorhomes dropped 17.2% in September from September 2009, Statistical Surveys Inc. (SSI) has reported.
It was the first year-over-year decline for Class B sales this year, following a steady improvement starting in 2009.
Year-to-date, Class B sales still remain a healthy 28.8% ahead of the 2009 pace.
Kitchener, Ontario-based Roadtrek Motorhomes Inc. remained the industry leader in September with a 40.6% market share, followed by fellow Canadian builder Pleasure-Way Industries Ltd. with a 21.9% share. Winnebago Industries Inc. was the leader among U.S. builders with a 19.8% share and in third place overall.
Year-to-date, Roadtrek is the industry leader with a 42.1% market share, followed by Pleasure-Way with a 22.1% share and Winnebago with an 18.3% share.
To subscribe to this or other SSI reports, contact Scott Stropkai, SSI national RV sales manager, at (616) 281-9898 ext. 128, or 616-446-8179 (cell).