THOR Industries, Inc. THO recently announced the acquisition of Tiffin Motorhomes, Inc. and related companies, collectively referred as Tiffin Group, in a deal worth $300 million. The purchase was funded through a combination of cash and borrowings from the company’s existing asset-based credit facility.
The buyout, executed on Dec 18, includes the acquisition of Tiffin Motorhomes, Vanleigh RV and other associated operating entities.
Tiffin Motorhomes, based in Alabama and Mississippi, produces a premium fleet of both gas and diesel-powered Class A Motorhomes, including the Allegro Breeze, Allegro Red 340, Allegro Red, Open Road Allegro, Phaeton, Allegro Bus and Zephyr models. The company also produces a premium Class C product line — The Wayfarer.
Tiffin Motorhomes generated approximately $800 million from RV sales in fiscal 2020 (ended…