The RV dealer inventory finance portion of Transamerica Distribution Finance is for sale, but that will have no impact on Transamerica’s customers in the RV industry, said Rick Compton, RV national product manager.
In fact, Transamerica is looking to expand its RV dealer floorplan finance business, Compton said.
Transamerica, a San Francisco-based insurance and finance company, was acquired last year by Dutch insurance giant Aegon NV, which announced earlier this year that it intends to sell Transamerica’s lending businesses.
“Aegon has the entire commercial finance group up for sale,” Compton said.
There is a prospective buyer, which Compton declined to identify. However, he said the potential buyer has no plans to liquidate Transamerica’s RV dealer inventory finance portfolio.
“We don’t anticipate anything (impacting Transamerica’s RV dealer customers) except for a possible name change,” Compton said.
Although Transamerica believes RV sales, particularly motorhome sales, will be lower this year, Compton said, “This actually is a good time to be aggressive, we’re trying to grow our RV market share.”