The deal between Germany-based Erwin Hymer Group and Roadtrek motorhomes completed Wednesday, according to the Illinois equity firm that previously owned the Kitchener, Ontario-based RV manufacturer.
Industrial Opportunity Partners announced in a news release that the deal closed at the end of business Wednesday. Figures for the deal were not disclosed, but the equity firm said the deal was the seventh in its $185-million divestiture effort.
According to the release, Industrial Opportunity Operating Principal Andy Weller served as Roadtrek’s board chairman and provided strategic oversight from IOP’s investment in April 2011 through the sale.
“Through the leadership and dedication of the company’s management team, led by CEO and President Jim Hammill, Roadtrek has continuously improved its product offering and shown a consistent commitment to innovation,” Weller said.
Piper Jaffray & Co. provided investment banking services to IOP in connection with the sale transaction, while McDermott Will & Emery provided legal representation.