Dometic Corp., a leading supplier of refrigerators and air conditioners to the RV industry, has entered the leisure marine refrigeration and air conditioning sector through the acquisition of Taylor Made Group’s Taylor Made Environmental (TME), Dometic announced Thursday (July 31).
TME builds and sells marine air conditioners under the Marine Air, Cruisair and Condaria brand names. Its marine refrigerators are sold under the Tundra and Grunert brand names.
TME also makes Sentry-brand battery chargers for the pleasure-boat industry.
“The acquisition presents new opportunities for Dometic to strengthen our position in the pleasure-boat industry,” said Dr. Sven Stork, CEO of Dometic Group, a unit of EQT, a European private equity firm that also includes several key Dometic personnel as investors.
“Along with the SeaLand (Technology) acquisition (from Taylor Made Group) in January 2002, we are able to create a more comprehensive product offering to our marine customers,” Stork added.
Terms of the transaction were not revealed and it will “have no immediate effect on current business relations with TME,” Stork said. “Our intent is to build upon the strengths and successes of both companies.”
John Waters, president of Dometic’s North American operations, believes the acquisition “is an excellent fit for both companies. The purchase will provide greater resources for research and design and presents growth opportunities for Dometic in the marine industry in conjunction with our SeaLand Sanitation Systems.”
For years, Dometic, which has its North American headquarters in Elkhart, Ind., was a unit of European home appliance manufacturer Electrolux. The TME acquisition is the third by Dometic since it split from Electrolux in January 2002. In addition to SeaLand Technology, Dometic acquired MIKO, a leading supplier to Germany’s RV industry, in January.