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Denny Bailey, president of R-Vision Inc., views the Warsaw, Ind.-based manufacturer’s acquisition by Monaco Coach Corp. as a good fit – for both companies.
“Now we’re going to be associated with a name that’s highly respected and well thought of in the industry,” Bailey told the South Bend Tribune. “Our strength is in towables. They don’t produce anything like the towables we build.”
Wednesday (Nov. 9), Coburg, Ore.-based Monaco announced a definitive agreement to purchase the R-Vision companies for around $60 million. The deal is likely to close by the end of the month.
R-Vision produces travel trailer, hybrid and fifth-wheel lines, along with Class A and Class C motorhomes. Its Roadmaster and Bison affiliates build specialty trailers.
According to Monaco, R-Vision will particularly boost its offerings in the light-weight, lower-priced towable sector.
“They’re one of the industry leaders in the light-weight towable segment, a segment we’re not in at all,” said Craig Wanichek, director of corporate communications for Monaco. “Their highest priced trailer matches up slightly below our lowest price trailer.”
Monaco’s move could make a big difference for the company as consumers react to higher fuel prices by looking to lighter recreational vehicles, said Sherman Goldenberg, vice president for Affinity Group Inc. and publisher of the industry trade magazine RV Business.
“Only time will tell the wisdom of this acquisition,” Goldenberg told the Tribune.
Goldenberg called the acquisition “a complete finesse move” on the part of Kay Toolson, Monaco chairman and chief executive officer.
“Entrepreneurs like Kay Toolson often attack when things are tough instead of retreating,” he said. “The smart, strong business people that are good entrepreneurs often see opportunities when things to others look very bleak.”
Monaco said R-Vision, which employs around 900 workers at the three companies, will operate as a wholly owned subsidiary and that management and personnel would remain in place.
“This is probably one of the most positive things that could happen to the company because we can grow even faster now,” Bailey said.