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Fleetwood sells motor home assets to American Industrial Partners

Fleetwood Enterprises, a producer of motorized recreational vehicles and manufactured homes, has closed the sale of its motor home assets to American Industrial Partners Capital Fund IV

Fleetwood Enterprises, a producer of motorized recreational vehicles and manufactured homes, has closed the sale of its motor home assets to American Industrial Partners Capital Fund IV.

The purchase price of USD33.2m is inclusive of certain assumed liabilities and is subject to customary post-closing adjustments.

Concurrently, Fleetwood terminated approximately 700 employees associated with this portion of its business. Affected employees were notified earlier this week. The new owners are expecting to hire approximately 650 employees over the next several weeks.

Fleetwood continues to own two idled motor home plants in Pennsylvania and California, although the Riverside, California plant will be operated temporarily by AIP under licence.

The sale includes two motor home manufacturing facilities, two motor home service facilities, and Fleetwood’s Gold Shield supply subsidiary, all presently located in Decatur, Indiana.

It also includes the intellectual property for Fleetwood’s existing motor home brands and certain machinery and equipment in Riverside, California.

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