Recreational vehicle (RV) manufacturer Thor Industries (NYSE:THO) just announced its acquisition of RV parts maker AirX Intermediate, otherwise known as Airxcel. Thor, owner of famous RV brands like Airstream and Dutchmen, will pay $750 million for its new subsidiary. Investors responded positively, bidding up Thor’s stock more than 3% on Sept. 1, the day of the announcement. Here are three takeaways for investors.
1. The acquisition meshes well with Thor
Airxcel is a manufacturer, not just a reseller, of RV parts, meaning Thor is also gaining new factories and a lineup of part designs. Airxcel makes and sells original equipment manufacturer (OEM) parts to RV manufacturers like Thor, but also has multiple brands of aftermarket parts it sells to RV owners. Airxcel offers products like air conditioners, sinks, cooking appliances, roller blinds, specialty RV paneling, heating systems, windows, and ventilation.
