Haig Partners LLC is pleased to have represented Doug and Sharon O'Banion, principals of Motor Home Specialist, ("MHS") in the sale of their business to RV Retailer, LLC ("RVR"). MHS, located outside Ft. Worth, TX, is the #1 volume selling RV dealership in the world with 15 brands and 115 product lines, providing the most diverse selection of RVs in one location.
Doug O'Banion stated, "Our family started MHS in 1999 with a small pre-owned dealership and through years of hard work, tremendous employees and the leading RV manufacturer partners, we built MHS into the world's largest motorized RV dealership. When we decided to sell the company, it was important we find the right transaction partner who could continue taking MHS to the next level. Our son, Donny, will remain a shareholder and lead MHS along with our General Manager of 20 years, Robert Brake, our Sales Manager, Mark Griffith, and our Inventory Manager and son, Tyler. There will be no change to our customer promise of offering the largest selection of motorized RVs with the industry's best pricing."
"I would also like to thank the team at Haig Partners for providing invaluable advice and service throughout the process. They worked with numerous interested parties and helped us negotiate an agreement with the best buyer for our company. It was a complex transaction but we feel RVR will ensure the legacy we created will continue for many decades to come."
RVR, led by Jon Ferrando, also shared, "We are excited to partner with Donny O'Banion and the MHS management team to continue its run as the #1 motor home dealer in the world from its home base in Texas. We also welcome MHS' 145 dedicated associates to the RV Retailer family. We will continue to operate the business under the Motor Home Specialist retail brand name which has been built successfully over the last 20 years."
Kevin Nill, Alan Haig, and Nate Klebacha of Haig Partners LLC were the financial advisors to the O'Banion family. Daniel Hoops of Shackelford, Bowen, McKinley & Norton, LLP served as legal counsel for MHS. Stephen Dietrich of Holland and Knight served as legal counsel and Crowe LLC served as the accountant for RVR.
Kevin Nill shared, "I have known Doug and Sharon for many years. We were honored and privileged to have been selected by the family to advise them on such a critical matter. Given the scale of MHS, we recognized certain financial buyers outside the industry would find the business and its' incredible success highly attractive and a foundational component to establishing a new RV dealership organization. Structuring a transaction that ensured MHS will continue under Donny's leadership and vision was crucial and ensures MHS' customers will continue receiving the selection of RVs and customer service they have received the past 19 years. We would like to congratulate Jon and the team at RV Retailer and welcome them to this great industry."
About Haig Partners. Haig Partners LLC is the leading advisory firm to owners of higher value dealerships and dealership groups. Since 1996, the principals at Haig Partners have completed over 180 auto, RV and heavy truck dealership transactions totaling in excess of $3.9 billion, more than any other team in the industry. They also publish the widely followed Haig Report which tracks trends in the auto industry and how they impact dealership valuations. The latest Haig Report is available here.
Alan Haig is a frequent speaker at leading industry events.
About RVR. RVR was founded in 2018 to create a leading recreational vehicle retail company in the U.S. RVR's capital partner is Redwood Capital Partners. RVR is led by Jon Ferrando, CEO and President, and John Rizzo, EVP, CFO and Treasurer.
View the original article here: https://www.prnewswire.com/news-releases/haig-partners-advises-motor-home-specialist-on-sale-to-rv-retailer-llc-300675342.html
