Skip to main content

Market Overview

Thor Industries Acquires Recreational Vehicle Parts Maker Airxcel For $750M

Share:
Thor Industries Acquires Recreational Vehicle Parts Maker Airxcel For $750M
  • Thor Industries Inc (NYSE: THOhas acquired AirX Intermediate, Inc (Airxcel) for a purchase price of $750 million. Wichita, Kansas-based Airxcel is a maker of recreational vehicle parts and accessories that they sell to original equipment manufacturers (OEMs) and consumers via aftermarket sales through dealers and retailers.
  • Thor expects the acquisition to be accretive to its fiscal year 2022 earnings.
  • Airxcel generated about $680 million annual revenue, with roughly 80% from OEM sales and 20% from aftermarket sales.
  • Thor funded the deal through a combination of cash-on-hand and $625 million from its expanded Asset-Based Credit Facility.
  • Thor held $541.36 million in cash and equivalents as of July 31, 2021.
  • Price Action: THO shares are trading higher by 3.35% at $117.23 on the last check Wednesday.
 

Related Articles (THO)

View Comments and Join the Discussion!

Posted-In: BriefsM&A News Movers Trading Ideas

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com