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Article: Court OKs $53M sale of Fleetwood motor home assets
- Article from:
- AP Online
- Article date:
- June 26, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Recreation vehicle maker Fleetwood Enterprises Inc., which has been operating under bankruptcy protection for three months, has received court approval to sell its motor home assets to a private equity firm for $53 million.
The sale to New York-based American Industrial Partners Capital Fund IV LP includes two motor home manufacturing facilities and Fleetwood's Gold Shield supply subsidiary. The assets are located in Decatur, Ind.
Fleetwood CEO Elden L. Smith said in a statement that AIP is "well capitalized, experienced and committed to growth in the RV ...