Indiana RV Maker Announces Tech Venture

Posted: Updated:
RV Maker Thor Hopes to digitally connect RV owners across the world with new venture RV Maker Thor Hopes to digitally connect RV owners across the world with new venture
ELKHART -

Elkhart-based Thor Industries (NYSE:THO) will join with several companies to bring digital connectivity to RV owners across the world. The 50/50 joint venture, titled TH2, pairs Thor with New Zealand-based Tourism Holdings Ltd. Thor's initial investment in TH2 is $50 million.

TH2 also announced it has acquired the assets of a number of companies, including Roadtrippers, Roadtrippers Australasia, Cosmos, Mighway, and CamperMate.

The TH2 platform will focus on digitally connecting RV enthusiasts by allowing them to plan and book trips, receive roadside assistance, peer-to-peer RV and campsite rental. The system will also combine an RV owner's record keeping and allow dealers to provide support with online vehicle manuals and more. Thor officials say TH2 will increase efficiencies in pricing, fleet management and service. 

“As the world leader in the recreational vehicle industry, we are constantly evaluating ways to improve the overall RV experience for our customers,” said Bob Martin, Thor President and CEO. “Through this joint venture, we believe we can offer a variety of products and services that provide invaluable benefits, via digital connectivity, to an evolving consumer base. As the breadth of our consumer base continues to widen, with more and more younger consumers entering the market, we must provide them with innovative solutions to not only capture their interest, but also to retain them as life-long customers.

The new joint venture will be headquartered in Cincinnati, with Airstream (Thor Subsidiary) President and CEO Bob Wheeler serving as President. Thor will use the equity method of accounting for the venture, which will begin in the third quarter of fiscal 2018. Company officials say the transaction is expected to have little impact on Thor's fiscal year 2018 earnings. 

  • Perspectives

    • An Antidote For First-Time Homebuyer Jitters

      If you're a Millennial like I am, chances are you're in the market to purchase your first home. It's exciting!  But since it's most likely the largest purchase you've ever made, it can quickly turn into a nerve-racking endeavor. Having just completed a transaction, I found that following these guidelines can ensure a smooth process. Every homebuyer's experience will be different because of a number of variables such as what state you live in and the condition of the housing mark...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Finish Line Acquisition Complete

      The nearly $560 million acquisition of Indianapolis-based The Finish Line Inc. is complete. The deal by JD Sports Fashion plc, a retailer headquartered in the United Kingdom, was announced in March. Finish Line shareholders last week approved the transaction. The Finish Line is now a wholly-owned subsidiary of JD Sports. Finish Line Chief Executive Officer Sam Sato will remain with the surviving corporation and will maintain a seat with the board of directors.

    • (Image courtesy of IU Health West.)

      IU Health West President Updates $80M Expansion

      As executives continue to receive feedback about an $80 million expansion of Indiana University Health West Hospital in Avon, newly-appointed President Art Vasquez says the project is focused on the future. Plans call for four dozen additional beds, a new operating room and additional laboratory and support service space. Vasquez tells Inside INdiana Business capacity issues at the 14-year-old Hendricks County facility have led to hundreds of patients a year being transported elsewhere.

    • Delta Begins Nonstop to Seattle

      Delta Air Lines now offers a nonstop flight from Indianapolis International to Seattle-Tacoma International Airport. The first flight leaving Monday night will be a milestone for the Indy airport, since it will now connect to all Delta hubs in the U.S. 

    • Colts Makes Promotions, Hires

      The Indianapolis Colts have announced the following changes to its football operations staff and team. Ed Dodds has been named assistant general manager. He enters his second season with the Colts and his 16th year in the NFL. Brian Decker has been promoted to director of player development. Jon Shaw has been elevated to assistant director of pro scouting. Also, Stephanie Pemberton (pictured) has been promoted to vice president of marketing.

    • Ohio River Crossing Updates Prove More Costly

      The I-69 Ohio River Crossing Project Team has unveiled updated preliminary alternatives for I-69 bridge and interstate connections that come with higher price tags. The group says the changes on the Evansville-to-Henderson, Kentucky project were based in part on public input on factors ranging from routes to tolling.