Swedish, Elkhart Companies Reach Exclusive DealPosted: Updated:
An Elkhart-based recreational vehicle appliance maker has signed an exclusive purchase agreement with a Swedish company. Atwood Mobile Products LLC Chief Executive Officer Tim Stephens says the deal with Dometic Group gives the Hoosier manufacturer more opportunities for growth in existing markets. In 2012, Atwood announced plans to add more than 130 workers by next year.
September 9, 2014
Stockholm, Sweden and Elkhart, Ind. USA – Dometic Group, a global leader of leisure products for the recreational vehicle (RV), marine, truck and automotive-based industries, today announced that it has signed an exclusive purchase agreement with Elkhart, Ind.-based Atwood Mobile Products, LLC, a global provider in designing, engineering and manufacturing appliances and hardware for the RV, On-/Off-Highway and Marine industries for over 50 years. This acquisition will complement and further diversify Dometic's existing product offerings and strengthen the company's global footprint.
"The key rationale behind this important acquisition is that it will expand our product range offered to our North American and global customers," said Roger Johansson, President and CEO of Dometic Group. "With Atwood as part of our Group, we will be able to offer high quality water heaters, ventilation technology, windows and doors, innovative furnaces, and more - products which have not been included in our present North American offering."
Atwood's primary markets are North America and Australia. The company has 775 employees and annual sales of approximately $200 million.
"Atwood has a strong set of offerings and a reputation for providing high quality products and accessories." says Frank Marciano, President of Dometic Americas. "Combined, we will be able to offer our global customers a great complement to our current range, access to our global exceptional service teams and ultimately greater value."
Tim Stephens, CEO and President of Atwood Mobile Products, added: "With Dometic, we have found a partner that gives us more growth opportunities in the markets we serve. Together, we will be able to offer a full range of complementary appliances and equipment that will enhance our customers' comfort when away from home."
Dometic Group's global revenue, on a rolling 12 months, after the acquisition will amount to approximately $1,400 million and the number of employees will increase to 7,200. Terms of the potential acquisition were not disclosed. The acquisition is pending governmental regulatory review. For information about Dometic Group, visit http://www.dometicgroup.com. Like the company on Facebook at Dometic RV USA or on Twitter @DometicRVUSA. Read more about Atwood Mobile Products at http://www.atwoodmobile.com.
About Dometic Group
Dometic Group is an innovator and trendsetter for people enjoying a comfortable, mobile lifestyle. We serve the market with a complete range of air conditioners, refrigerators, awnings, cookers, sanitation, portable coolers, lighting, mobile power equipment, windows, doors, minibars, safes and other products that make life away from home more comfortable.
We offer delivery from manufacturing plants and warehouses located close to our customers with a global distribution and support network to take care of aftermarket service.
Products are sold through multiple distribution channels and have a solid reputation, recognized for high quality and innovation.
Dometic Group is the preferred development partner and equipment supplier to RV manufacturers, boat builders, commercial- and passenger vehicle manufacturers, hotels, retailers and more than 12,000 dealers and technical service companies all over the world.
Source: Dometic Americas, Atwood Mobile Products LLC