A $53 million sale of Fleetwood Enterprise Inc.’s RV division to a New York equity firm was approved Wednesday (June 24) in bankruptcy court in Riverside, Calif.
American Industrial Partners was the only firm to bid for Fleetwood’s RV division, according to the Riverside Press-Enterprise.
The deal is expected to close July 10.
American Industrial Partners agreed to buy Fleetwood’s intellectual property and RV brands in addition to two motorhome manufacturing plants, two motor home service centers and the company’s subsidiary Gold Shield supply, all located in Decatur, Ind.
Dino Cusumano, a partner with American Industrial Partners, cited a confidentiality agreement signed with Fleetwood and wouldn’t confirm or deny speculation that the RV manufacturing operations would be revived in Decatur and the company’s headquarters moved there.
Details of the deal regarding any possible leadership transitions from Fleetwood to American Industrial’s operations and what fate is in store for Fleetwood’s RV plant in Riverside, which wasn’t part of the sale, remained unclear.