Monaco Coach Corp. completed the acquisition of 95% of the stock of highline Class A motorhome builder SMC Corp., Monaco announced today (Aug. 2).

About 95% of SMC’s shares were tendered to Monaco as of the deadline of 12:01 a.m. today. Monaco will pay $3.70 in cash for each of the SMC shares.

The 5% of SMC’s shares that were not tendered will be converted into a right to receive $3.70 in cash.

SMC last traded for $3.68 a share on the Nasdaq Stock Market.

Otherwise, the merger of SMC into Monaco “will be completed as soon as practicable,” according to Monaco.

Monaco is paying $37 million for SMC, excluding transaction-related expenses. The $37 million includes the refinancing of about $16 million of SMC’s debt.

Monaco’s plan to acquire SMC was revealed in late June and there was no doubt the transaction would be completed because SMC Chairman Matt Perlot and CEO Curtis Lawler, combined, owned 70% of SMC’s stock and they both agreed to sell their shares to Monaco.