Country Coach, a highline diesel motorhome builder, sold to Riley Investment Partners.
"We are pleased to share some exciting news with our coach owners, business partners and fellow employees," said Country Coach President and CEO Jay Howard. "The purchase of our company by a highly successful investment management company allows us to focus on what we do best. Our mission remains to design and build the highest quality, most innovative motorcoaches in the marketplace. Simply put, we will continue to produce The World's Finest Motorcoaches."
Adding to the day's news, the Company heralded the return of Company Founder and RV Industry patriarch Bob Lee to the Country Coach Family. In his role of Chairman Emeritus, Mr. Lee will provide valuable counsel to the Country Coach management team. "My heart has always been, and will always be with Country Coach," said Bob Lee from the Company's headquarters in Junction City, Oregon, where he is busy moving into his new office. "I am pleased to be back home where I began in 1973. We can once again focus solely on the business of making beautiful luxury motorcoaches for our many RV'ing friends. Country Coach has a solid management team, wonderful long-term employees, and a great business plan. With our newfound operational independence, there is nothing we can't achieve."
Riley Investment Partners Principal Bryant Riley added, "When we evaluated the RV industry and its management, we looked for two things: quality management and the highest quality products. With this investment, we have accomplished that goal in spades, and look forward to continuing to build on the company's well deserved reputation as the builder of the world's finest motorcoaches." Riley continued, "Additionally, we are very pleased that the Company President and CEO Jay Howard, Founder and Chairman Emeritus Bob Lee, and Sales Senior Vice President Jim Howard are all making financial investments in the Company, further demonstrating their belief and commitment to the future of Country Coach. "
Mark Andersen, Chief Financial Officer for Country Coach, highlighted the positive impact the Company's new independence will have on future development. "Country Coach will be able to reinvest its profits in the business, creating the opportunity to make the Company even more effective and competitive."
Company President & CEO Jay Howard continued to emphasize a "focused" approach to Country Coach's future. "In a challenging marketplace, where many companies have suffered, Country Coach has just completed its 14th consecutive profitable quarter." Mr. Howard observed. "We have done so by concentrating on the luxury market, listening to our customers, and taking the time to do it right. Bob Lee has directed us towards building each motorcoach like it was for our own Mother. We intend to spend all of our time making him proud of our Company and our motor coaches."
Jim Howard, Senior Vice President of Sales & Service for Country Coach, is enthusiastic about the Company's ability to be a leader in innovation. "Our dealer partners provide us with constant and valuable input on the kind of features we should provide to help them be successful. This refreshed and independent Country Coach will be able to respond more quickly and accurately than ever before to market demands, helping our dedicated business partners to grow their businesses in tandem with ours."
This newly private Company has big plans for 2007. Country Coach will next be in Jekyll Island, Georgia in March for their East Coast Class Reunion Rally. This event will be followed immediately by the Family Motor Coach Association convention in Perry, Georgia, where the Company will mark the public debut of its new Rhapsody 900 luxury coach, in addition to other innovations in luxury and craftsmanship.
No matter where the Company may be presenting new products, Country Coach's doors are open at its Headquarters for factory tours nearly any time of the year. "For people who want to see the difference, there's nothing better than a visit to Junction City," commented Bob Lee. "The coffee's always on. Come see us, and let us show you what it takes to call a motorcoach a Country Coach."