Thor Bought Airxcel - Wow!

**creativepart** · 09-01-2021, 11:34 AM

Yikes, this is getting serious. Thor Motorcoach Corp just bought Airxcel - makers of:

Coleman-Mach rooftop air conditioners, heat pumps, thermostats and accessories
Suburban furnaces, water heaters and cooking appliances
MAXXAIR ventilation solutions
Aqua-Hot hydronic heating systems
Dicor roofing products, sealants, coatings, wheels and more
Vixen Composites fiberglass reinforced plastic and custom composite panels
CAN Italian cooking appliances, sinks and accessories
Cleer Vision windows and tempered glass
MCD roller shades
United Shade window shades

https://rvbusiness.com/thor-industri...plier-airxcel/

**creativepart** · 09-01-2021, 11:37 AM

My Winnebago has Coleman-Mach A/Cs, Suburban furnace, Cleer Vision Windows and MCD Roller Shades.

They paid 7.6X revenues for the company. This shows they really wanted it.

ZimBob · 09-01-2021, 11:49 AM

If you're an RV builder, you'll either be part of the Thor family of companies, or you will pay their platform tax in the form of buying components that you need to build your competing units.

If I was sitting at the strategy desk at Thor, I'd be thinking next about how to acquire Ford's RV chassis business. Ford needs the cash and the focus on their passenger truck / vehicle business, and Thor could vertically lock up a good chunk of the RV supply chain.

Continued moves like this would force smaller motor home manufacturers like Winnebago further to horizontally differentiate (think Class B's, boats, and diesels), and would cause Forest River to rethink their lives.

It's a fascinating business.

**creativepart** · 09-01-2021, 11:59 AM

WBGO has to be thinking along these same lines - I doubt there is enough money in the kitty to buy LCI.

If I were Truma or Furion I'd be knocking on WBGO's door - but wait, didn't someone just buy Furion? Oh, wait, that was LCI that bought them.

BobC · 09-01-2021, 05:34 PM

I hope they keep selling the basement air replacement units.

Ray,IN · 09-05-2021, 08:57 PM

Thor owns Tiffin now too.

BobC. If RVP basement units become unavailable I'm installing a mini-split unit when/if mine requires replacement.

NeilV · 09-08-2021, 06:34 AM

Quote:

Originally Posted by Ray,IN

Thor owns Tiffin now too.

BobC. If RVP basement units become unavailable I'm installing a mini-split unit when/if mine requires replacement.

They are such a staple item for park units and mobile homes I'd find it hard to fathom their exiting that market completely. Price increases going up a notch though may be coming.

puttin · 09-08-2021, 04:31 PM

Who ever owns it won't matter much in today's environment. Raw materials needed to manufacture the products they make are either non-existent or nearly impossible to obtain. So...you have a company that supplies air conditioners- well you cant because they are incomplete. Thor might be able to outlast parts shortages and see this acquisition as a positive move but for the rest of us it doesn't matter.

driveby · 09-09-2021, 11:54 AM

I noticed on the new Journey some brands (mostly Italian) that were new names. I wonder if W corporate took a run at them too, decided to not overpay and now knows they need to find alternate suppliers so they don't enrich their competitor?

It would appear more industry consolidation is on the way.

corvetteSS · 09-13-2021, 08:55 AM

This is a scary situation, as now there is another reason for a parts shortage for all brands non-Thor. It would be like GM having to buy sub-components that were being built by Ford owned companies. You know who will get the priority.. I am assuming that OEM outlets will still be able to get parts, but I will have a hard time putting something with a "Thor" label into my Winne. On the bright side, it will provide for other companies to come forward with their products.

BobC · 09-13-2021, 08:59 AM

Quote:

Originally Posted by corvetteSS

This is a scary situation, as now there is another reason for a parts shortage for all brands non-Thor. It would be like GM having to buy sub-components that were being built by Ford owned companies. You know who will get the priority.. I am assuming that OEM outlets will still be able to get parts, but I will have a hard time putting something with a "Thor" label into my Winne. On the bright side, it will provide for other companies to come forward with their products.

I'm not sure this will be a big problem. Subsidiary companies are usually held to their own revenue and profitability targets. Sales are sales, regardless of the source.

corvetteSS · 09-13-2021, 09:12 AM

I agree (if there is no "parts" shortage). But with the supply chains in their current situation (parts shortages). I am sure that Thor will get priority for the available parts, and everyone else will have to wait. So there will be less Thor coaches waiting for "air conditioner" parts, and more Winne coaches that will be waiting for parts. They will get them, but only after standing in line behind all the Thor companies. Stuff like that for all of the components.