Camping World (CWH) Acquires Iowa-Based Thompson Family RV
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Camping World Holdings Inc. (NYSE: CWH) announced an agreement to acquire Thompson Family RV L.C. in Davenport, Iowa. Camping World anticipates closing the acquisition within the next sixty days. Current arrangements are to commence operations upon finalizing the transaction, with renovation plans to feature a Camping World retail store and preparing the location to join over 120 other Camping World retail locations across the U.S.
Thompson Family RV was started by Charles W. Thompson in 1959, along with his children Mag, Gene and Jim. Continuing under the leadership of the Thompson family's third generation, Thompson Family RV has grown to one of the Midwest's largest recreational vehicle dealers. RV Business magazine has named Thompson Family RV a Top 50 RV Dealer in North America multiple times and Thompson Family RV has received numerous other awards and recognitions over the years, including designation as one of Iowa's Top 100 Workplaces by the Des Moines Register and being awarded the Integrity Award by the Greater Iowa, Quad Cities and Siouxland Region Better Business Bureau, by exemplifying the highest standards of business ethics and conduct. Mark Thompson, CEO of Thompson Family RV, said "We look forward to joining the nation's leading RV network and adding ever increasing value to our customers. We sincerely thank our family, employees and loyal customers for making Thompson Family RV what it is today." Chad Tappendorf acted as advisor to Thompson Family RV on the transaction.
"Under the Thompson family's leadership and dedication, Thompson Family RV has established itself as one of the most successful, well-known and respected RV dealerships in the Midwest," said Marcus Lemonis, Chairman and CEO of Camping World and Good Sam. Lemonis added, "The acquisition of Thompson Family RV will strengthen our footprint in the Iowa market and allow us to leverage the experience of the Thompson family management team, market knowledge and product lines to expand to surrounding markets, including additional Iowa and southern Illinois opportunities, further increasing our market share and penetration of our Good Sam products, services and plans. In anticipation of this acquisition and its platform, we are acquiring property in Bloomington, IL for further expansion and actively searching for opportunities in Des Moines, IA, Dubuque, IA, Peoria, IL, Springfield, IL and Joliet, IL."
As part of the Camping World network, the location will offer a wide array of services, such as RV sales, service and parts and accessories for the outdoor and RV enthusiast, and will provide the full suite of Good Sam products, services and protection plans, including roadside assistance, extended warranties and insurance.
The new Camping World Supercenter will feature RVs from top manufacturers and brands, including Keystone, Jayco, CrossRoads and Venture, and new and innovative products, accessories, interactive displays and customer experiences from top vendors such as Dometic, Honda, Thetford, Goodyear, Winegard, Camco, Roadmaster, Reese, Cequent, Lippert, Exide, Ultra-Fab, Coleman, Valterra, Champion, Rand McNally, Max-Air, BAL, Select Comfort, ASA Electronics, Cummins-Onan, WFCO, Weber, HWH, Presto-Fit, Stromberg-Carlson, RDK Products, Magellan, King Controls, Charbroil, Amerigas, ExxonMobil products, Norcold and many more.
Lemonis continued, "I always look for three things: People, Process and Product in relation to enhancing our Camping World and Good Sam presence, all of which are exemplified by Thompson Family RV. Our goal is to add more quality manufacturers and brands, increase our presence in the surrounding markets by adding additional locations, and growing the workforce."
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