RV supplier Dometic has entered into an agreement to acquire Valterra Products.
The acquisition will broaden Dometic’s stated position in service and aftermarket segments through new products, a broader distribution network and “strengthened” market presence. The transaction also increases Dometic’s presence in the mobile power solutions market through Valterra’s Go Power! brand. Investment amounts were not disclosed.
“I am pleased to welcome Valterra and its employees to Dometic,” the supplier’s president and CEO, Juan Vargues, said. “The acquisition is part of our strategy of strengthening our service and aftermarket position in the growing outdoor industry. Valterra complements our product portfolio and strengthens our offer to make Dometic even more relevant to our current and future customers.”
In 2020, Valterra’s sales were $94 million, with 12% organic sales growth.
“Expansion in service and aftermarket is a strategic priority for Dometic, as it offers attractive market dynamics, strong earnings potential, good opportunities for further expansion and low cyclicality,” Dometic stated. “Valterra supports this strategy with a wide range of service and aftermarket low-ticket sales products and a proven strong profitability. With Go Power!, Dometic is also significantly increasing its presence in the fast-growing market for solar power solutions tailored to a mobile outdoor lifestyle.”
Bert Grengs founded aftermarket supplier Valterra Products in 1981 to make waste valves and, for a time, skateboard decks and bearings. Today, Valterra is a player in the pool and spa, plumbing and RV industries with product offerings including faucets, lighting, TPMS and levelers. The company’s 550 employees work throughout offices in California, Florida and British Columbia, with a manufacturing facility in Mexico.
The acquisition is expected to close during this year’s second quarter, Dometic stated, pending regulatory approvals.