Indiana RV Makers Hammering Out Acquisition

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Middlebury-based Evergreen Recreational Vehicles LLC has signed a letter of interest to acquire the RV division of an Elkhart company. The deal for Skyline Corp. includes the manufacturer's Nomad, Layton and Aljo brand names. September 26, 2014

News Release

ELKHART, Ind. - On September 25, 2014, Skyline Corporation signed a letter of interest for Evergreen Recreational Vehicles, LLC to acquire substantially all of the assets of Skyline's Recreational Vehicle Division.

"I am very excited to be acquiring the RV Division from Skyline," stated Kelly L. Rose, Chairman of the Board of Evergreen Recreational Vehicles. "Mr. Art Decio has been a longtime friend of mine and a person who I hold in the highest esteem and respect. As everyone knows in our community as well as our industry, Art is an icon and legend in the manufactured housing and RV industry. I consider this a great honor to accept the reins from Art and carry on a longtime tradition of quality and integrity that Art has instilled in his companies over the years. The Evergreen management team led by our CEO Michael H. Schoeffler and our president and COO Mark A. Boessler are extremely excited about the challenges that lie ahead as we merge this great company under the Evergreen RV umbrella."

"Obviously the most important issues that face us immediately are retaining the very loyal employees of Skyline as well as solidifying and building on the tremendous dealer body that has partnered with Skyline over the decades," stated Rose. "The brand names of Nomad, Layton and Aljo have been in the marketplace for 50 years, and remain our focus on continuing building on the great image," remarked Mike Schoeffler, CEO.

The obligations of Skyline Corporation and Evergreen Recreational Vehicles, LLC under this letter of interest are contingent upon the negotiation, execution and delivery of a definitive asset acquisition agreement satisfactory to both parties.

Sources: Evergreen Recreational Vehicles LLC and Skyline Corp.