The likely buyer of Peak Manufacturing Inc.’s assets intends to go ahead with Peak’s plan to build the Liberty Touring Coach Class C motorhome in the U.S.
“Our intentions are to make that happen,” said Blair Bondar, vice president of Winalta Inc., an Edmonton, Alberta, Canada-based builder of manufactured and modular homes in Canada and the U.S.
Bondar is COO of newly formed Vanguard Manufacturing Inc., which was created by Winalta to acquire Peak’s North Battleford, Saskatchewan, plant. The acquisition was approved by Canada’s verison of bankruptcy court last Friday (Nov. 21) and Winalta believes the deal will be finalized this week.
Peak manufactured Vanguard, Frontier, Security and Kodiak Class Cs, fifth-wheels and travel trailers from plants in North Battleford and Thetford Mines, Quebec.
Bondar noted that Winalta’s subsidiary, Winalta USA, operates a 200,000-square-foot manufactured housing plant in Linton, Ind., a town in southwestern Indiana.
“We know we need to build in the U.S. to be closer to the dealer network,” he said. “We have room to run Class C’s, so it would be our plan to build them in the United States.”
Winalta’s acquisition followed the filing for protection from creditors in September by the Peak Group of Companies of Saskatoon, Saskatchewan.
The acquisition, if finalized, will mark Bondar’s return to the helm of a company he once ran. Bondar was CEO for four years of Vanguard Manufacturing Ltd., North Battleford, which was acquired by Peak in 1993. Winalta Chairman and CEO James A. Sapara said that operations of Peak’s facilities in North Battleford will continue uninterrupted. Winalta, a TSX Venture Exchange-listed company, posted $61.8 million (Canadian) in sales last year. Peak Group had $62 million (Canadian) in sales in fiscal 2003, but laid off 180 of 260 workers after filing for bankruptcy. Technically, Winalta acquired 70% of Peak Manufacturing and investor group Intermerge Advisory Inc. bought the other 30%. Bondar also is president Intermerge which also is based in Edmonton.