Owners of Gulf Stream Coach Inc.’s motorized and towable divisions dismissed rumors that the privately held company was the target of a buyout from Thor Industries, Inc., according to a report in the Elkhart Truth.
Brian Shea, who heads up the Nappanee, Ind.-based company’s motorized division, admitted to hearing rumors that Thor had been eyeing Gulf Stream, but said they were unfounded. Shea added that neither he nor his brother Dan, who oversees towable operations, had been contacted by Thor.
The Truth reported that Wade F.B. Thompson, chairman of Jackson Center, Ohio-based Thor, said Monday (Jan. 3) he doesn’t comment on rumors.
Gulf Stream has experienced considerable growth over the past few years and is currently expanding operations with the addition of a dedicated facility for its lightweight towable division in nearby Etna Green.
Thor has been the industry’s most active consolidator in recent years and has made two acquisitions in northern Indiana in the past 18 months with the purchase of motorhome builder Damon Corp. and towable manufacturer CrossRoads RV.
Other Thor companies in Indiana’s Elkhart County include Keystone RV Co., Dutchmen Mfg. Inc. and Four Winds International.