Thu Jun 13, 2019
Rapido Group, the fourth largest RV manufacturer in Europe, has been given permission to proceed with acquiring the assets of Roadtrek, a subsidiary of Erwin Hymer Group North America (EHGNA).
Customers who previously purchased certain Roadtrek motorhomes—units that do not have recently--discovered seating safety issues—will have warranty protection for their RVs.
Additionally, LaMesa RV will be acquiring 113 completed RVs branded under the Carado and Hymer names. Assets will be transferred in five batches between late June and late July.
As court-appointed receiver and manager of Erwin Hymer Group North America, Alvarez and Marsal was retained to assist in the sale or liquidation of the company’s assets for the Erwin Hymer family.
Rapido Group received approval to move ahead with the sale on June 4 with the transaction to be completed by July 5.
Included in the sales are all Roadtrek branded products, prototypes, intellectual property, dealer tags, fixed assets and equipment. The deal includes the existing lease of the company’s facility in Cambridge, Ontario.
Under the terms of sale, Rapido Group will honor warranties of Roadtrek customers, for two years from purchase date, up to $1,500 per vehicle.
Rapido Group intends to offer positions to as many as 110 former Roadtrek employees once the transaction is complete and to hire an additional 200 employees by December 2020.
For the full report provide by Alvarez and Marsal, please click here.