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 .
Fri Jun 9, 2017
NEW YORK - KPS Capital Partners, LP has announced that, through a newly formed affiliate, it has signed a definitive agreement to acquire DexKo Global Inc. and its affiliates. Financial terms of the transaction were not disclosed.
DexKo Global is a global supplier of highly engineered running gear technology, chassis assemblies and related components with more than 130 years of trailer and caravan componentry experience. DexKo Global was formed at the end of 2015 through the combination of Dexter and AL-KO Vehicle Technology. The company is headquartered in Novi, Michigan and employs more than 4,500 employees with 39 manufacturing facilities and 25 distribution centers across the globe.
"We are very excited to acquire DexKo Global, a market leader with industry-leading quality, customer service and product innovation," KPS Partner Raquel Palmer says. "We look forward to working with Chief Executive Officer Fred Bentley and the management team to aggressively grow DexKo Global both organically and through strategic acquisitions. We were drawn to DexKo Global's entrepreneurial management team and the opportunity to provide our manufacturing expertise and other strategic, operational and financial resources to its global platform. We are pleased that DexKo Global's existing controlling shareholder, The Sterling Group L.P. will continue to own a minority stake, affirming the future growth and value creation potential of DexKo Global."
"The entire DexKo Global team is excited to partner with KPS as we continue to execute our strategy to be the preferred global supplier of highly engineered trailer axles, chassis assemblies and related componentry," Bentley says. "DexKo Global strives to provide our customers with unparalleled quality, technology and customer service and KPS shares the same focus and commitment as evidenced by many successful investments in industrial businesses over the past 20 years. KPS' focus on manufacturing excellence and significant capital resources will accelerate DexKo Global's many ongoing growth initiatives."
Completion of the transaction is expected around the middle of 2017 and is subject to customary closing conditions and approvals.
Paul, Weiss, Rifkind, Wharton and Garrison LLP served as legal counsel to KPS and its affiliates.