NEWS RELEASES
German Manufacturer Hymer Receives Bids From Thor And Other Suitors
Editor's Note: This news item was retrieved and first published through Bloomberg and Reuters' website.
GERMANY — According to a report in Bloomberg, Hymer GmbH, one of the world’s most innovative - and successful - makers of motorhomes and caravans, has attracted bids from four different suitors, including Thor Industries Inc. and private equity firm Centerbridge Partners. The negotiations are private but sources tell Bloomberg the company could be valued at about 2 billion euros ($2.3 billion). If negotiations fail, the Hymer family may opt for an initial public offering of stock on the Frankfurt exchange where the company could be valued at 2.5 to 3 billion euros. A decision should be made within a couple of weeks.
In a related story, sources told Reuters that the owners of the family held business were initially seeking funds for Hymer investments in North America and Asia, including a planned factory in China, and planned to divest only a minority stake, but have opened up to the idea of selling a controlling stake. This year, Hymer is expected to post earnings of more than 250 million euros (before interest, tax, depreciation and amortization) and of roughly 300 million in 2019.
Founded near Bad Waldsee, Germany in 1923 by coachbuilder Alfons Hymer, the company evolved into the largest RV manufacturer in Europe under the control of his son Erwin Hymer who joined the family business in 1956. In 1957, the Hymers released the first of the Eriba series, the iconic caravan known as the Troll.
Visit the Hymer website for more about the company and its current and past offerings.