The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu May 11, 2017
PARIS - Eurazeo, a leading global investment company listed in Paris, in partnership with West Street Capital Partners VII, a fund managed by the Goldman Sachs Merchant Banking Division, has announced the acquisition of Dominion Web Solutions, an integrated platform of branded marketplaces and digital marketing solutions for the powersport, RV, commercial truck and equipment industries, for $680 million. This is the first investment for Eurazeo in the U.S. since opening its North America headquarters in September 2016. The transaction is expected to close in June.
Dominion Web Solutions is the leading online classifieds marketplace and marketing software solutions provider to commercial and recreational dealers. Its B2C brands consist of Cycle Trader, RV Trader, ATV Trader, PWC Trader, Snowmobile Trader and Aero Trader, producing more than 7 million unique visitors monthly. Additionally, its industry leading B2B brands consist of Commercial Truck Trader, Commercial Web Services, Equipment Trader, RV Web Services and focus on supporting its dealers and manufacturers with driving impressive results as top of mind. Dominion Web Solutions has 10 businesses and about 300 employees with its home office located in Norfolk, Virginia.
Dominion Web Solutions, owned by Landmark Media Enterprises, has achieved significant scale with more than 6,700 dealers, about 4 million unique listings and more than 7 million average unique monthly visitors across its platforms. The company has a track record of double-digit revenue growth.
“DWS has already built a market leading platform and we see tremendous opportunity to continue to add new and improve existing services to dealers and consumers and to target new customers,” Eurazeo North America Deputy CEO and President Virginie Morgon says. "Additionally, the company is well positioned to benefit from increased marketplace adoption and the continuing shift from traditional to digital advertising by dealers.”
“Dominion Web Solutions is excited to join the Eurazeo and GS MBD family,” Dominion Web Solutions President Lori Stacy says. "With their experience and long-term strategic vision, Eurazeo and GS MBD are ideal partners to help us enhance our platform and accelerate our growth.”
“We are excited to work with the management team and Eurazeo to further develop the DWS story and take advantage of both organic and transformational growth opportunities,” Goldman Sachs Managing Director Harsh Nanda says.
Eurazeo and GS MBD will each acquire a 50 percent equity stake in DWS. The partnership will provide the company with strategic, operational and financial support for growth, including for potential acquisitions in adjacent markets and internationally. The investors will take an active shareholder role and work closely with the management team on future initiatives, according to a press release.
“As Eurazeo’s first acquisition in the U.S., it provides a strong foothold for our firm’s future,” Morgon says. "This investment is an example of the companies we aim to invest in and partner with – high quality enterprises with strong management teams and long-term transformational growth opportunities.”