Northern Wholesale to be Acquired by Sun Capital Partners – RVBusiness – Breaking RV Industry News

LINO LAKES, Minn. – Northern Wholesale Supply, LLC announced that substantially all of its assets will be acquired by an affiliate of Sun Capital Partners, Inc., a global private investment firm with nearly 30 years of experience, according to a press release. This strategic partnership marks the beginning of an exciting chapter for the NWS business, bringing renewed resources, operational expertise and a strong foundation for long-term growth.

After an extensive process to identify a partner with the expertise and resources to support the restructuring and growth of the NWS business, Sun Capital was selected for its proven track record and deep industry experience. Sun Capital brings the experience and capabilities needed to support the business in achieving its strategic objectives and driving sustainable value creation.

“This acquisition represents an exciting opportunity to build on the strong legacy of NWS and unlock the full potential of the business,” said Chad Smith, CEO of NWS. “With Sun Capital’s support and expertise, we are well-positioned to enhance our operations, expand our reach, and deliver even greater value to our employees, customers, suppliers, and partners.”

As part of the transaction, NWS completed a statutory assignment under Minnesota Statute 577 – Assignment for the Benefit of Creditors. Following court approval on November 26, 2024, the transaction is expected to close in the coming weeks.

The buyer will continue to prioritize strong relationships with employees, suppliers, and customers. The buyer is committed to supporting the NWS workforce with resources and growth opportunities, rebuilding and strengthening supplier partnerships to ensure continuity, and enhancing customer experiences through innovation and expanded capabilities.

“We believe the NWS business has great potential, and we are excited to partner with its dedicated leadership team to drive meaningful operational improvements,” said Matthew Garff, Sr. Managing Director and Partner at Sun Capital. “Our investment underscores our confidence in the strength of NWS’s business and its ability to thrive with the right resources and strategic direction.”

NWS’s management team, alongside Sun Capital, is energized by the opportunities ahead and remains focused on both organic growth and strategic initiatives to further expand the business’s footprint and capabilities. With a shared commitment to operational excellence and innovation, this partnership will represent a new era of success for NWS and its stakeholders.

NWS looks forward to welcoming suppliers, dealers and industry professionals to the NWS RV Supershow, scheduled December 11-12 at Mystic Lake Casino and Hotel in Prior Lake, MN. NWS has a record number of attendees scheduled to attend, expanded product training and several fun networking events.

NWS’s advisors in the restructuring are Lighthouse Management Group, serving as Assignee for the Benefit of Creditors, Fort Dearborn Advisors, serving as financial advisor and investment banker, and Fredrikson & Byron, serving as legal advisors.

Morgan, Lewis & Bockius LLP is serving as legal counsel to Sun Capital.

Founded in 1984, Northern Wholesale Supply, LLC is a leading provider of RV and marine parts and accessories, selling over 30,000 products to hundreds of customers throughout the United States. The Company also maintains a proprietary products division (primarily comprised of its Extreme Max® product line) to address unmet customer demand. NWS is headquartered in Lino Lakes, Minnesota.

Sun Capital Partners, Inc. is a global private equity firm focused on partnering with outstanding management teams to accelerate value creation. Since 1995, Sun Capital has invested in approximately 545 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. The firm has built a reputation as a trusted partner, recognized for its operational experience. Sun Capital focuses on defensible businesses in growing markets with tangible performance improvement opportunities in the Business, Consumer, Healthcare Services and Industrials sectors. The firm has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London.

For more information, please visit www.suncappart.com.

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