DURA Automotive Systems Inc., parent of RV industry supplier Atwood Mobile Products, has completed the acquisition of Creation Group, another RV industry supplier, for $57 million, DURA announced.
“The Creation Group is known throughout the industry for the high quality of its windows, doors and specialty products in the recreation and motor vehicle and manufactured housing markets,” Atwood President Bob Pickering said. “I’m extremely excited about the synergies between Creation Group and Atwood and the opportunities this business combination brings to us.”
Creation, based in Elkhart, Ind., had $145 million in sales revenue in 2002 and its operating income amounted to $9 million. It had $3 million in depreciation expense last year, so its earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $12 million.
Creation, which was sold to DURA by Heywood Williams PLC of the United Kingdom, operates from 10 facilities in Indiana, Ohio and Pennsylvania and employs around 1,100 people.
DURA primarily is an auto-industry supplier. It is a Nasdaq Stock Market-traded company headquartered in Rochester Hills, Mich.