Thursday, June 04, 2009

Equity firm buying Fleetwood motor home business

Fort Wayne Journal Gazette - Fort Wayne,IN,USA
Fleetwood Enterprises Inc. said Wednesday that it has signed an asset purchase agreement to sell its struggling motor home business which employs hundreds in Decatur to a New York-based private equity firm.

The company said in a written statement that American Industrial Partners Capital Fund IV plans to purchase the assets for $53 million, but the bid is subject to a reduction for the assumption of certain liabilities not to exceed $18 million. The price is also subject to an adjustment for the amount of current assets purchased at the time the transaction closes, the release said.
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