Charter Equities In Acquisition Talks With Arizona RV Dealer Group
GILBERT, Ariz.--(BUSINESS WIRE)--Charter Equities, Inc. (CEQI) announced today that it is in active acquisition discussions with one of the largest and oldest RV dealership groups in Arizona. “Having been contacted by their CEO, we have scheduled a meeting for next week at their corporate headquarters to continue the on going discussions of the acquisition potential of this $200,000,000 group of dealerships,” said Mat Curtner, President of Charter. “In addition, our corporate finance and investment banking advisor has had recent discussions with this groups broker who will both be in attendance at next weeks meeting,” Curtner said. “The interest level for our RV consolidation plan continues to encourage us in our efforts to bring economies of scale and market efficiencies to the RV dealership segment,” Curtner said.
Charter recently began implementing its RV Consolidation Plan with the acquisition of Saddleback RV www.sadlebackrv.com. Saddleback is a highly visible recreational vehicle dealer in Colton, California. Saddleback operated from Irvine, California from 1991 before moving to its new, state of the art, Colton dealership facility in 2006. Their new dealership includes a comfortable atmosphere and extensive service capabilities for the well-heeled RVer. With average annual sales of $24,938,000 the past four years, Saddleback has a recognized and well established presence in the RV dealership community. Saddleback has exclusive marketing territories for the following products or manufacturers: 5th Wheel Trailers by Carriage, Inc.; Toyhaulers by Dutchman; Class C and Class A motorhomes by Gulfstream and Four Winds, a division of Thor, and luxury motorhomes by Foretravel.
As a wholly owned subsidiary of Charter, Saddleback and this new proposed acquisition will continue to be managed by Michael Sebastian as Dealer Principal of the Saddleback dealership with the added responsibility of identifying potential acquisition candidates.