Kidd & Co., a family office investment firm, has bought recreational vehicle seller Colerain RV. At the same time, Colerain has acquired fellow RV dealer Northside RV’s for an undisclosed amount.
Family-owned Northside, based in Lexington, Kentucky, is the largest motorhomes and travel trailers dealership in the state. With the addition of Northside, Colerain, located in Cincinnati, now operates five dealerships in Indiana, Kentucky and Ohio. The company sells brands such as Coachmen, Keystone and Winnebago.
“The acquisition of Northside RV’s represents our latest geographic expansion and we see many more opportunities to continue to grow both organically and through acquisitions,” says Wade Stepp, Colerain’s executive vice president of operations.
Kidd & Co., based in Old Greenwich, Connecticut, was founded in 1976 when William Kidd made his first PE investment. The firm focuses on companies that have less than $10 million in Ebitda. For more on family offices, see Pritzker Group and Other Wealthy Families Skip PE Firms to Invest Directly.
PE firms have been showing interest in companies that make and sell trailers along with other recreational vehicles. Bain Capital LLC has agreed to acquire American Trailer Works and Blackstone (NYSE: BX) is adding Utility One Source.
Northcreek Mezzanine, Spring Capital and Tenth Street Capital have provided financing on the Colerain transaction.