SOUTHLAKE, Texas and ELKHART, Indiana – October 24, 2013 – Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas, headquartered private equity firm, is pleased to announce that it has completed a recapitalization of its portfolio company, Atwood Mobile Products (“Atwood”), that included a dividend distribution to its shareholders.
In addition to the recapitalization, Atwood recently acquired Aircommand Australia (“Aircommand”). Aircommand is a leading designer and manufacturer of air conditioners and compressor refrigerators, selling to the RV (Caravan), Specialty Vehicle and residential markets worldwide, with particular focus in Australia, North America, Europe and Asia. The company offers roof top air conditioners, split system air conditioners, all-in-one air conditioners, heat pump hot water systems, and agricultural climate control systems. AirCommand was founded in 1982 and is headquartered in Adelaide, South Australia.
“Aircommand is a global innovation leader in specialty cooling systems that supplies world-class quality units designed to endure the Australian outback. We have been working with Aircommand to launch their unique, high performance rooftop units into North America and this transaction cements our relationship,” stated Tim Stephens, Atwood’s President. “The early market enthusiasm for this product line reflects our own excitement for Aircommand as part of the Atwood family.”
David O’Brien, General Manager of Aircommand, stated, “We are excited to formalize our relationship with Atwood and realize the industry potential of this new partnership. Atwood and Aircommand share strong cultures with mutual commitments to quality, innovation, engineering and product performance.”
About Atwood Mobile Products
Atwood Mobile Products, founded in 1909, is a leading global supplier of gas appliances, windows, doors, electronics, seating components, hardware and motorized vents to the Recreational Vehicle (RV), manufactured housing, marine and specialty vehicle industries. With facilities across the United States and Australia, Atwood Mobile Products serves numerous RV and mobile home manufactures, and strives to grow its long-standing reputation for the highest quality products, innovation in design, and excellent service and delivery. The company is headquartered in Elkhart, IN.
About Insight Equity
Insight Equity makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.