Thor Industries acquires Airxcel

In a hugely significant move for the RV industry, Thor Industries has announced the acquisition of AirX Intermediate (Airxcel), a leading OEM and aftermarket RV parts and accessories company.

The acquisition was driven by many factors, but a key one according to Thor Industries president and CEO Bob Martin, was the ability to invest in a key supplier to the RV industy in Europe and North America in light of so many supply chain challenges.

Bob said: “We are excited to welcome Airxcel to the Thor Industries family. Airxcel has been a long-time business partner to Thor and the RV industry, supplying some of the highest-quality products over decades to the RV industry. 

“We believe the long-term growth potential for the RV industry remains very positive, and this acquisition reflects our confidence that the RV industry will continue to grow. Airxcel will operate independently in Thor's decentralized business structure, and we will govern this business much like we have managed our Postle Aluminium supply company post acquisition. Airxcel will operate at arm's length from Thor's RV OEM companies and will sell to the various Thor brands as they would any other OEM in the RV industry. Importantly, the current management team at Airxcel will continue operating the business and serving their diverse customer base while gaining access to the financial strength of Thor to support their growth.”

Airxcel began in 1991 as a divesture of the Coleman RV Air Conditioner division. The company has continued to grow through innovative product development, market expansion, and strategic acquisitions. The Airxcel RV Group provides industry-leading products in recreational vehicle heating, cooling, ventilation, cooking, window covering, side wall, and roofing materials under the current brands: Aqua-Hot, CAN, Coleman-Mach, Dicor Products, United Shade, Vixen Composites, Maxxair, MCD, and Suburban. Airxcel's employees are based in five facilities across the U.S. and in Italy, where they design, manufacture, and distribute products all over the world.

Airxcel CEO Jeff Rutherford added: "We have had a long history as a key supplier to the RV industry and to THOR and its many brands specifically, and we are excited to become part of the THOR family of companies. Under THOR's ownership, Airxcel will continue its long-standing relationship with manufacturers and aftermarket providers throughout the RV industry without interruption, while continuing to develop, manufacture and sell high-quality, innovative RV product solutions.”