Actuant Corp., supplier of Power Gear brand leveling and slideout systems, has acquired Dewald Manufacturing of Mishawaka, Ind., an RV industry supplier with about $20 million in annual sales.
Terms of the transaction were not revealed. It was structured as an asset purchase with the assumption of certain operating liabilities.
“Dewald has an excellent reputation as a supplier to the RV market and generates over 80% of its revenue in the towable portion of that market,” said Robert Arzbaecher, Actuant’s president and CEO. “The majority of its (Dewald’s) revenue is derived from the sale of hydraulic slideout systems and will complement the electric slideout systems offered by Power Gear.
“Dewald’s customer base has very little overlap with Power Gear’s and allows Actuant to diversify its RV business across a larger customer base,” Arzbaecher added. “While the domestic RV market is undergoing challenging times as a result of economic conditions, Dewald has grown its revenue during this period of weakness through the combination of new product introductions and a customer base that is taking market share from other RV manufacturers.”
The acquisition includes Dewald’s 130-employee factory in northern Indiana and it should add to Actuant’s earnings during the company’s current fiscal year, Arzbaecher said.