THOR Buys Airxcel - Quick Facts

(RTTNews) - THOR Industries, Inc. (THO) has acquired AirX Intermediate, Inc. The purchase price is $750 million. THOR expects the acquisition to be accretive to fiscal 2022 earnings. In conjunction with the acquisition, THOR expanded its asset-based credit facility from $750 million to $1.0 billion.

Wichita, Kansas-based Airxcel manufactures a line of RV products which they sell to original equipment manufacturers as well as consumers via aftermarket sales through dealers and retailers.

"Consistent with our stated capital allocation priorities, we expect to remain focused on paying down our outstanding debt balances from future net cash generated from operations," said Colleen Zuhl, THOR CFO.